Industrial Production Up Sharply in April

Washington, DC, May 16, 2012 -- Industrial production rose sharply in April, according to the Federal Reserve.

Overall production rose 1.1% in April, the strongest gain since December 2010 and well above expectations.

Economists had forecast a 0.7% gain.

Factory activity alone rose 0.6% in April after a 0.5% drop in the prior month. Excluding the auto sector, output rose 0.3%.

Consumer-goods production rose 0.8% in April after falling 0.5% in March.

The production of construction supplies was flat in April after a 1.6% decline.