US industrial production rose in April by the most in over a year, pointing to nascent momentum in the sector.
The 0.7% increase in output at factories, mines and utilities followed a revised 0.3% drop in March, Federal Reserve data out Friday showed. That topped all estimates in a Bloomberg survey of economists.
Manufacturing output, which accounts for about three-fourths of total industrial production, climbed 0.6%. Mining output, which includes energy extraction, edged lower, while utilities output rebounded.
The report adds to evidence that the manufacturing sector is holding up even as the Iran war ...
