American Factory Output Drops

U.S. manufacturing output dipped 0.2% from February to March, the Federal Reserve says. Combined production at American factories, mines and utilities was unchanged last month.

Production of motor vehicles in March edged down 0.1% month over month to an annual rate of 10 million units. But the Fed says output of autos and parts posted a year-over-year increase of nearly 40%.

In the first quarter of this year, vehicle production averaged an annual pace of 10.1 million units, up 9% from the fourth quarter of 2011 and 16% higher than the full year.