US industrial production rises as expected in March

(Sharecast News) - Industrial production in the US dipped last month, but only due to a drop in output from utilities. According to the US Department of Commerce, in seasonally adjusted terms, total production fell at a month-on-month pace of 0.3% in March (consensus: -0.2%).

Factory production was ahead by 0.3%, following a 1.0% gain in February, led by output of motor vehicles and for aerospace.

Mining output was higher by 0.6% alongside, but was roughly flat for the latest three-month stretch, Commerce said.

Utilities output meanwhile slumped by 5.8%.

The degree of total capacity utilisation retreated from 78.2% in February to 77.8% for March.