Industrial Production Rose 0.4% in March

Washington, DC, April 16, 2024-Industrial production rose 0.4% in March but declined at an annual rate of 1.8% in Q1, according to the Federal Reserve. 

Manufacturing output increased 0.5% in March, boosted in part by a gain of 3.1% in motor vehicles and parts; factory output excluding motor vehicles and parts moved up 0.3%. The index for mining fell 1.4%, and the index for utilities gained 2%. At 102.7% of its 2017 average, total industrial production in March was unchanged compared with its year-earlier level. Capacity utilization moved up to 78.4% in March, a rate that is 1.2 percentage points below its long-run (1972–2023) average.