U.S. industrial production shows solid 0.4 percent gain in August

U.S. industrial production rose by a healthy 0.4 percent in August, boosted by gains in the production of autos, oil and natural gas.

The Federal Reserve said Friday that industrial production, which includes output at factories, mines and utilities, has climbed 4.9 percent over the past 12 months.

Factory production increased 0.2 percent last month, lifted by a 4 percent rise in the making of vehicles and parts. Automakers assembled vehicles at their strongest pace since April.

Mining output posted a 0.7 percent monthly gain. A sharp increase in the production of oil and natural gas has caused mining output to soar 14.1 percent over the past 12 months.

Production at utilizes advanced 1.2 percent in August, powered by a surge in electricity usage.