Industrial Production Up 0.4% in March
Washington, DC, April 14, 2023-Industrial production rose 0.4% in March and was little changed in the first quarter, increasing at an annual rate of 0.2%, according to the Federal Reserve.
In March, manufacturing and mining output each fell 0.5%. The index for utilities jumped 8.4%, as the return to more seasonal weather after a mild February boosted the demand for heating. At 103.0% of its 2017 average, total industrial production in March was 0.5% above its year-earlier level. Capacity utilization moved up to 79.8% in March, a rate that is 0.1 percentage point above its long-run (1972–2022) average.