Economic Data and Growth

Industrial production rose 0.7% in April, while manufacturing output advanced 0.6% after ticking up 0.1% in March. At 97.9% of its 2017 average, manufacturing production increased 1.3% from April 2025. Capacity utilization for manufacturing was 75.8%, up 0.4 percentage points from March and 1.1% over the past year. Capacity utilization remained 2.4 percentage points below its long-term average from 1972 to 2025.

In April, production for most major market groups improved. Consumer goods production climbed 0.9%, while business equipment output jumped 1.5%. The growth in consumer durables (up 1.2%) was led by the output of automotive products rising 2.2%. Meanwhile, the index for consumer nondurables moved up 0.9%, led by an increase in the index for energy (up 2.6%). Among business equipment, the 4.2% jump in transit equipment output led the advance. At the same time, the index for materials rose 0.5%, while the index for construction supplies stayed the same and the index for business supplies ticked up 0.3%.

Durable goods manufacturing surged 1.2% in April and 3.2% from the year prior. The largest monthly gain occurred in motor vehicles and parts (up 3.7%), while furniture and related products registered the largest decline (down 1.8%). Meanwhile, led by a 2.2% decrease in apparel and leather production, nondurable manufacturing edged down 0.1% in April and 0.6% from April 2025.