Industrial Production Rose 0.9% in March & 8.1% in Q1

Washington, DC, April 18, 2022-Total industrial production advanced 0.9% in March and rose at an annual rate of 8.1% for Q1, according to the Federal Reserve.

Manufacturing output gained 0.9% in March; the output of motor vehicles and parts jumped 7.8%, while factory output elsewhere moved up 0.4%. The index for utilities increased 0.4%, and the index for mining advanced 1.7%. At 104.6% of its 2017 average, total industrial production in March was 5.5% above its year-earlier level. Capacity utilization climbed to 78.3%, a rate that is 1.2 percentage points below its long-run (1972–2021) average.