Industrial Output Increases Sharply 3d Month in Row: 0.8% Advance Posted in April, Inventories Up
Industrial production increased sharply in April for the third consecutive month, the Federal Reserve Board reported yesterday.</br></br>The nationÛªs central bank said that the output of the nationÛªs factories, mines and utilities grew 0.8 per cent in April. Production increased 1.4 per cent in March, partly reflecting a catchup in production after the bad weather and fuel shortages in January and early February.</br></br>Industrial output fell 0.8 per cent in January, but by February the nationÛªs factories had overcome much of the problems associated with gas shortages and cold weather. According to revised figures, production jumped 0.8 per cent in February, the same as in April.</br></br>Aside from a decline in automobile production, which had surged in March, ÛÏrelatively large gains in output were widespread in April," the Federal Reserve Board said.</br></br>The agency reported that automo- ÐÊ biles were put together at an annual rate of 9.3 million units in April, 4 per cent below the March rate. The Fed ... cited strikes at some plants as well as Û¢ a cutback in production because auto makers are overstocked with some small-model cars.