US Factory Production Advances at Solid Pace for a Third Month

US factory production rose at a solid pace for a third month in April, showing manufacturers are making strides meeting steady consumer demand and investment growth.

The 0.8% increase followed a similar gain in March, Federal Reserve data showed Tuesday. Total industrial production, which also includes mining and utility output, climbed 1.1% during April.

Median forecasts in a Bloomberg survey of economists called for a 0.4% advance in factory output and a 0.5% gain in industrial production.

Another robust month of factory output illustrates how an easing of capacity constraints tied to labor and materials is providing producers greater …