US industrial production increased 0.4% in March, driven by a 0.5% rise in manufacturing, particularly motor vehicles.
US industrial production increased 0.4% in March, in line with expectations, with manufacturing output rising 0.5% due to a 3.1% increase in motor vehicles and parts production. Mining output declined 1.4%, while utilities saw a 2% increase. Industrial production rose 0.4% in March, maintaining February's revised figure, and capacity utilization in the industrial sector improved to 78.4%. Despite these gains, manufacturing faces challenges from higher borrowing costs and tighter credit conditions.
April 16, 2024
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