Search
 
News

Production Rebounds at U.S. Manufacturers

Automakers led a rebound in U.S. factory production in April, with manufacturing output rising 1% after downward revisions to the prior two months.

By Reade Pickert | May 17, 2023 at 10:02 AM
Photo: Workers assemble cars at Ford’s Assembly Plant in Chicago. Photographer: Jim Young/AFP/Getty Images Workers assemble cars at Ford’s Assembly Plant in Chicago. Photographer: Jim Young/AFP/Getty Images

Production at U.S. factories rebounded in April, led by a firm advance at automakers and suggesting some stabilization in goods demand.

Manufacturing output rose 1 percent last month after downward revisions to the prior two months, Federal Reserve data showed Tuesday. Including mining and utilities, total industrial production increased 0.5 percent.

Metric Actual Median Estimate
Manufacturing production (MoM) +1% +0.1%
Industrial production (MoM) +0.5% Unchanged

The gain in factory output reflected a 9.3 percent jump in motor vehicle production, as well as increases for primary metals, computers and electronic products, and chemicals.

The gain in auto production was the largest since October 2021. Vehicle assemblies totaled an annualized 11.4 million last month, the strongest since July 2020.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

NOT FOR REPRINT

© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

 

Recommended Stories

Risk of U.S. Shutdown Drops

Risk of U.S. Shutdown Drops

Erik Wasson & Billy House |

More Democrats are backing the plan, which continues spending at current levels but does not include aid to Israel or Ukraine.

U.S. Inflation Is Slowing

U.S. Inflation Is Slowing

Augusta Saraiva |

The core CPI, which excludes food and energy costs, rose just 0.2% from September to October.

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2023 ALM Global, LLC. All Rights Reserved.