US Factory Output Grows at Fastest Pace in a Year

Price pressures persist for U.S. firms due to soaring global energy costs.

Workers assemble cars at a Ford’s Assembly Plant in Chicago, Illinois, on June 24, 2019. JIM YOUNG/AFP via Getty Images

U.S. factory production surged at its best pace in more than a year, according to new Federal Reserve data published on May 15.

In April, industrial production jumped 0.7 percent, following an upwardly adjusted 0.3 percent decline in the previous month, the U.S. central bank said.