Keeping you up to date on the latest data releases.
- Industrial Production
Industrial production increased 0.4 percent (nonannualized) in March, following an increase of 1.1 percent in February. The near-term trend (three-month annualized percent change) has remained stable at roughly 5.0 percent over the past five months. On a year-over-year basis, overall production is up 3.5 percent. Manufacturing production edged down 0.1 percent for the month while the year-over-year growth rate rests at 2.5 percent. Breaking down the manufacturing sector durable goods fell 0.2 percent while nondurable goods production was unchanged in March. Within durable goods manufacturing, motor vehicles and parts were one of the only areas to show gains in March, increasing 2.9 percent. Overall capacity utilization rose 0.2 percentage points to 78.5 percent of capacity, which is now 1.7 percentage points below its long run average.