U.S. factory production rose in April at a faster pace than economists expected, driven by a sharp increase in motor vehicle output and suggesting steady underlying momentum in the manufacturing sector despite emerging supply-chain pressures tied to global geopolitical tensions.
Manufacturing output increased 0.6% in April following an upwardly revised 0.1% gain in March, according to data released Friday by the Federal Reserve. Economists surveyed by Reuters had expected a 0.2% rebound after an initially reported 0.1% decline in the previous month, underscoring that factory activity came in stronger than anticipated.
