WASHINGTON (Reuters) – U.S. manufacturing output rose more than expected in April, buoyed by continued strong demand for consumer goods and in the automotive sector.
It rose 0.8% last month after a similar gain in March, the Federal Reserve said on Tuesday.
Economists polled by Reuters on average expected a rise of 0.4%. Over one year, it is up 5.8%.
US manufacturing, which accounts for 12% of the economy, faces repeated bottlenecks in its supply chain, due to Russia’s invasion of Ukraine and political China’s zero tolerance to COVID-19.
In addition, the dollar, which has gained at least 2.7% since the Fed began raising its interest rates in March, is likely to dampen export demand.
Auto production rose 3.9% last month after jumping 8.3% in March.
The increase in manufacturing output in April combined with a 1.6% increase in the mining sector, boosted by higher crude oil prices, pushed up total industrial production by 1.1%, after a rise of 0.9% in March.
(Report by Lucia Mutikani; French version Dina Kartit, edited by Marc Angrand)
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