Factory Output Falls Sharply as Auto Production Sags

U.S. factory output fell unexpectedly in March, charting its biggest decline in seven months as auto production contracted in a check on the manufacturing sector’s expansion.

The Federal Reserve said on Tuesday manufacturing production dropped 0.4 percent last month. February’s output was revised down to show a 0.3 percent gain instead of the previously reported 0.5 percent increase.

Analysts had expected a 0.1 percent increase in factory output in March. Still, smoothing out monthly volatility, factory production rose at a 2.7 percent annual rate in the first quarter.

Despite the sharp decline in manufacturing output last month, overall industrial production rose 0.5 percent because of an 8.6 percent weather-driven surge in utilities generation. That was the largest increase in utilities output on record, which resulted from heating demand returning to seasonal norms after being suppressed by unusually warm weather in February, the Fed said.

Mining output increased 0.1 percent last

admin

admin

Leave a Reply

Recent Posts

Trump Supporters: Get Your 2020 'Keep America Great' Shirts Now!

Are you a proud supporter of President Donald Trump?

If so, you’ll want to grab your 2020 re-election shirt now and be the first on your block to show your support for Trump 2020!

These shirts are going fast so click here to check for availability in your area!

-> CHECK AVAILABILITY HERE


More Popular Stuff for Trump Supporters!

MUST SEE: Full Color Trump Presidential Coin (limited!)

Hilarious Pro Trump 'You are Fake News' Tee Shirt!

[Exclusive] Get Your HUGE Trump 2020 Yard or House Flag!

<