Keeping you up to date on the latest data releases.
- Industrial Production
Industrial production went unchanged (nonannualized) in March, following another flat reading in February. On a year-over-year basis, overall production is up 3.8 percent. However, the near term trend (three month annualized growth) has fallen to 3.0 percent from 6.5 percent. Manufacturing production decreased 0.2 percent after having risen 0.8 percent in February. Breaking down the manufacturing sector, durable and nondurable goods each fell 0.2 percent in March following modest gains in February of 1.1 and 0.5 percent, respectively. Within durable goods manufacturing, nonmetallic mineral products, electrical equipment, appliances and components, and furniture and related products all posted decreases greater than 1.0 percent in March. Mining output rose 0.3 percent, after having declined 4.0 percent in February. Overall capacity utilization edged down 0.1 percentage points to 78.6 percent of capacity in February, still 1.5 percentage points below its historic average.