US industrial output slips 0.1% in March

Tuesday, 16. April 2019 15:16

The Federal Reserve measured a decline of 0.1% in industrial production in the United States for last month, surprising markets to the downside after a seasonally adjusted 0.1% rise in February. Capacity use landed at 78.8% or 0.2 percentage points lower, but against an upward revision from the previous month's 78.2% flash reading. In March of last year, utilization was at 78.2%. Of note, the long-term average is 79.8% and capacity grew by 2% on an annual scale.

Industrial output rose 2.8% year over year and the rate for February was mended insignificantly lower to 3.5%. Manufacturing output came in unchanged in the reporting month alone following drops of 0.3% in February and 0.5% in January. Production in the main component of the overall industry was down 1.1% in the first quarter from the level of one year before.

Mining slumped 0.8% in March while utilities posted an increase in output of 0.2%.

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