- Previous month 0.1% revised to 0.4%
- Industrial production 0.4% versus 0.4% expected. Biggest increase in August 2023
- Capacity utilization 78.4% versus 78.5% expected
- Previous month’s capacity utilization: 78.3%, revised downward to 78.2%.
- March manufacturing production at 0.5% versus 0.3% expected. The previous month was revised upwards to 1.2% from 0.8% previously announced.
Looking at the capacity utilization chart below, rates remain high, but near the lower end of the recent range over the past few years.
Fed Notes:
- Industrial production rose 0.4% in March, although it fell 1.8% year-on-year in the first quarter.
- Manufacturing production increased 0.5% in March, with production of motor vehicles and parts increasing 3.1%.
- Excluding motor vehicles and spare parts, industrial production increased by 0.3%.
- The mining index decreased by 1.4%, while the utilities index saw an increase of 2%.
- Total industrial production in March remained unchanged from a year earlier, standing at 102.7% of its 2017 average.
- Capacity utilization in the industrial sector improved to 78.4% in March, still 1.2 percentage points below the long-term average from 1972 to 2023.
This article was written by Greg Michalowski at www.forexlive.com.
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