U.S. Factory Output Rose 0.4% in March, Topping Expectations - Modern Distribution Management

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U.S. Factory Output Rose 0.4% in March, Topping Expectations

The increase was above investor expectations of a 0.2% gain, according to a survey by The Wall Street Journal.
The increase was above investor expectations of a 0.2% gain, according to a survey by The Wall Street Journal.

U.S. industrial production rose 0.4% in March, according to an April 14 Federal Reserve Board report and media analysis of the data.

According to a survey by The Wall Street Journal, the gain exceeded Wall Street expectations of a 0.2% increase. The recent cold temperatures contributed to a sharp increase in utility output, MarketWatch reported. Excluding utilities, production fell 0.4%, according to FRB data.

“The index for utilities jumped 8.4%, as the return to more seasonal weather after a mild February boosted the demand for heating,” the FRB said.

After gaining 0.6% in February, manufacturing fell 0.5% in March. As a whole, manufacturing increased 0.3% in the first quarter. Construction supplies, business equipment and consumer durable goods all declined, the FRB reported.

At 103% 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 was 0.1 percentage point above its long-run (1972–2022) average.

Read more more about March industrial output here.

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