US industrial production beat expectations in March

Industrial production in the US rose 0.4 percent monthly in March, beating expectations.

The US Federal Reserve (Fed) announced industrial production and capacity utilization data for March.

Consequently, the country’s industrial production rose 0.4 percent in March compared to the previous month. Market expectations were for industrial production to rise 0.2 percent in this period. Industrial production rose 0.2 percent in February.

FALL IN THE PRODUCTION OF THE MANUFACTURING INDUSTRY

Manufacturing output, on the other hand, fell 0.5 percent monthly in March. Expectations were for a 0.1 percent decline in manufacturing output. Manufacturing output rose 0.6 percent in February.

The capacity utilization rate in the country increased 0.2 points in the same period and became 79.8 percent. The market expectation for the capacity utilization rate was 79 percent. The capacity utilization rate, which exceeded market expectations, was recorded at 79.6 percent in February. (AA)