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U.S. Industrial Production Falls Slightly More Than Expected In March
(RTTNews) - Reflecting a steep drop by utilities output, the Federal Reserve released a report on Wednesday showing U.S. industrial production decreased by slightly more than expected in the month of March.
The Fed said industrial production fell by 0.3 percent in March after climbing by an upwardly revised 0.8 percent in February.
Economists had expected industrial production to dip by 0.2 percent compared to the 0.7 percent increase originally reported for the previous month.
The report said utilities output plunged by 5.8 percent, while mining output grew by 0.6 percent and manufacturing output rose by 0.3 percent.
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