Keeping you up to date on the latest data releases.
- Industrial Production
Industrial production rose at an annualized rate of 1.1 percent in March, following an upwardly revised 3.6 percent gain in February. Industrial production finished the quarter at a strong 7.8 percent, its largest annualized quarterly gain since 1999:Q4. Manufacturing production jumped up 11.0 percent (annualized rate) in March, after a slight 2.4 percent gain in February that was likely restrained by winter storms. Factory production rose 6.6 percent in the first quarter and is up 4.7 percent over the past year. In March, durables manufacturing rose 17.9 percent, while nondurables rose 6.6 percent. Mining output jumped up 30.8 percent, finishing the first quarter up 17.6 percent, and is up 5.2 percent over the past year. Utilities production posted an outsized decrease in March, slipping down nearly 55 percent at an annualized rate, though the release noted that was a function of warmer than usual weather. Capacity utilization continued to improve in March, rising from 73 percent to 73.2 percent, though is still well below its ten year average of 77.3.