American industry expanded production last month at the fastest pace in more than three years as manufacturers and mines recovered from a March downturn.
The Federal Reserve said Tuesday that U.S. industrial production at factories, mines and utilities shot up 1 percent in April from March, biggest gain since February 2014. Factory production rose 1 percent after declining 0.4 percent in March. Mine production increased 1.2 percent after falling 0.4 percent in March. And utility output rose 0.7 percent after surging 8.2 percent in March.
