Wednesday, April 16, 2014

Industrial Production Improved 0.7% in March

Industrial production rose 0.7% in March, following a strong surge in February. February’s revision from 0.7% to 1.2% is the largest monthly increase in over a year. All three major components – manufacturing, mining and utilities – contributed to March’s growth.

Manufacturing growth improved 0.5% in March. However, motor vehicles and parts declined 0.8% after sharply rising 6.9% the month prior. The remaining categories improved.

Mining production grew 1.5% in March, the strongest growth since last summer. Utilities production increased 1.0%, after declining the month prior. The capacity utilization ratio gained ground in March as it rose to 79.2 from a revised 78.8.

Read the Federal Reserve release.

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