Industrial Production Declined 0.5% in March but Grew 2.4% in Q1

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Industrial Production Declined 0.5% in March but Grew 2.4% in Q1

Washington, DC, April 16, 2026--Industrial production (IP) dropped 0.5% in March but still grew at an annual rate of 2.4% in Q1, according to the Federal Reserve. 

Similarly, manufacturing output ticked down 0.1% in March yet grew at a 3.0% rate in Q1. The indexes for mining and for utilities moved down 1.2% and 2.3%, respectively, in March. 

At 101.8% of its 2017 average, total industrial production was 0.7% above its year-earlier level. Capacity utilization receded to 75.7%, a rate that is 3.7 percentage points below its long-run (1972–2025) average.