US industrial production up 0.4% in March

By Ovunc Kutlu

ISTANBUL (AA) - US industrial production increased by 0.4% in March, compared to the previous month, according to the Federal Reserve data released on Tuesday.

The figure came in line with market expectations, while the figure in February was revised to a gain of 0.4%, from an increase of 0.1%.

Annually, however, industrial production in the first quarter was down 1.8% from the same period of last year, according to the Fed figures.

Manufacturing output, meanwhile, increased 0.5% in March from the previous month, boosted by a gain of 3.1% in motor vehicles and parts, the Fed said.

The figure for February was revised up to an increase of 1.2%, from a gain of 0.8%.

Capacity utilization, which indicates overall growth and demand in the economy, was at 78.4% in March.

That figure came in just slightly lower than market estimates of 78.5%, while it was revised down to 78.2% from 78.3% in February.