Ekonomické zprávy

U.S. industrial production rises more than predicted in March

The data issued by the Federal Reserve on Friday showed that the U.S. industrial production increased 0.4 percent m-o-m in March, following an upwardly revised 0.2 percent m-o-m increase (from unchanged m-o-m) in February. That was the third straight monthly rise in industrial output.

Economists had forecast industrial production would advance 0.2 percent m-o-m in March.

According to the report, the March gain in total industrial production reflected a jump in output of utilities (+8.4 percent m-o-m) that was offset by declines in manufacturing production (-0.5 percent m-o-m) and mining output (-0.5 percent m-o-m).

Meanwhile, capacity utilization for the industrial sector edged up 0.2 percentage point m-o-m to 79.8 percent in March, its highest level in four months. That was 0.8 percentage point above economists’ prediction of 79.0 percent and 0.1 percentage point above its long-run (1972-2022) average.

In y-o-y terms, the industrial output increased 0.5 percent in March, following an upwardly revised 0.9 percent advance (from +0.3 percent) in the previous month. That was the weakest gain since March 2021 (0.5 percent).

For the first quarter as a whole, the U.S. total industrial production went up 0.2 percent y-o-y.

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