Industrial Production Rises by Most in Four Months

Industrial production took its biggest increase in four months, gaining 0.3% in June, the Federal Reserve reported Tuesday.

The upturn, the biggest since February, followed a flat reading in May.

The increase matched economists’ median forecast, Bloomberg News reported.

Manufacturing output, which makes up about three-quarters of the total, rose 0.3%, also the biggest gain in four months and topping forecasts, Bloomberg said.

Capacity utilization, which measures plant output, rose to 77.8% from 77.7% in May, the Fed said. Utility output slipped 0.1%.

Motor vehicle and parts production surged 1.3% in June, following a 0.5% gain. Mining output, which includes oil drilling, rose 0.8%, following a 0.4% increase in May.

Manufacturing accounts for about 12% of the U.S. economy. The factory sector is one of trucking’s largest and most important customers.