Industrial Production Up in April

Washington, DC, May 16, 2007--Industrial production rose 0.7 percent in April following a revised 0.3 percent decrease in March, according to a Federal Reserve report issued Wednesday.

Economists had forecast a 0.3 percent increase in industrial production in the month after a previously reported decline of 0.2 percent the prior month.

Capacity utilization rose to 81.6 percent from 81.2 percent in March.

Motor vehicles and high-technology goods led the advance in factory output, while the coldest April in a decade increased home-heating demand.

Factory output, which accounts for about four-fifths of industrial production, rose 0.5 percent after rising 0.6 percent in March.

Utility production rose 3.5 percent after falling 7.5 percent in March.

Durable goods manufacturing rose 2.1 percent after rising 0.3 percent in March.

Motor vehicle production rose 5.8 percent following a 0.5 percent decline.

Production of computers and peripheral equipment rose 2.2 percent after a 3.2 percent gain.