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US industrial production up 0.4% in March

Bruno T
Latest News
April 16 2024 9:47AM

Industrial production in the United States rose by 0.4% in March after increasing 0.1% in the previous month, the Federal Reserve’s Board of Governors stated in its report published on Tuesday.

Manufacturing output rose 0.5% compared to the month before and 0.8% on an annual basis. Mining fell by 1.4% on a monthly basis, and by 2.0% year-over-year. Meanwhile, the utilities index grew by 2.0% compared to the month prior, but declined by 3.1% year on year.

Capacity utilization for the total industrial sector rose to 78.4%, which is 1.2 percentage points below its long-run average. Compared to the same period the year before, the figure declined by 1.8 percentage points.