US industrial production up in March
The data showed that the monthly increase was mainly driven by a jump in utilities output by 8.6% in March after a fall of 5.8% in February. The reports revealed that the rebound in the utilities output was due to demand for heating returning to normal after decreasing in February because of unusually warm weather.
However, mining and manufacturing output dropped by 0.1% and 0.4% in March respectively after posting respective increases of 2.9% and 0.3% in the previous month.
The data also showed that the capacity utilization was up to 76.1% in March from a revised 75.7% in February and stood slightly below the expectation of 76.2%. Capacity utilization in mining and manufacturing sector was down to 81.9% and 75.3% respectively while it increased to 75.7% in the utilization sector.
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