Industrial Production Rose 5.5% in Q1

Washington, DC, April 16, 2025-Industrial production (IP) decreased 0.3% in March but increased at an annual rate of 5.5% in Q1, according to the Federal Reserve. 

The March decline was led by a 5.8% drop in the index for utilities, as temperatures were warmer than is typical for the month. 

In contrast, the indexes for manufacturing and mining grew 0.3% and 0.6%, respectively. At 103.9% of its 2017 average, total IP in March was 1.3% above its year-earlier level. Capacity utilization stepped down to 77.8%, a rate that is 1.8 percentage points below its long-run (1972–2024) average.