Tuesday, April 17, 2012

Industrial Production Remained Stagnant for Second Month

Industrial production failed to grow in March for the second consecutive month. Despite the lack of growth, January and December’s growth was revised up to 0.7% and 0.9% respectively.

Manufacturing output was the primary drag on growth, contracting by 0.2% in March after growing 0.8% in February. Despite the contraction, manufacturing output now stands 10.4% above its level one year ago.

Utilities increased production 1.5% in March despite unseasonably warm temperatures. Mining output also grew in March, although its 0.2% growth was not enough to offset the 4.0% contraction seen in February.

Read the report.

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