Mexican Media Brands
Auto Industry Leads U.S. Factory Output
A booming auto industry pushed U.S. manufacturing output up 0.1% in March, according to the Federal Reserve. it was the manufacturing sector's first year-on-year gain in four months.
#economics
Share
A booming auto industry pushed U.S. manufacturing output up 0.1% in March, according to the Federal Reserve. it was the manufacturing sector's first year-on-year gain in four months.
The central bank says America's output of cars and auto parts grew 3.2% in March, reversing a 3.6% drop in February. When the auto sector is excluded, U.S. factory production last month slipped 0.1%.
Analysts say overall manufacturing in the U.S. is being held back by a strong dollar that raises the price of exported goods. The Fed report says overall industrial production in March shrank 0.6%, the largest decline in nearly three years.
Economists estimate the country's gross domestic product expanded less than 2% in the first quarter compared with 2.2% in the fourth quarter of 2014.
RELATED CONTENT
-
VW Warns of Higher Costs to Develop EVs
CEO Herbert Diess says the €20 billion ($23 billion) Volkswagen AG has budgeted to electrify its entire vehicle lineup won’t be enough to meet that goal.
-
Mazda, CARB and PSA North America: Car Talk
The Center for Automotive Research (CAR) Management Briefing Seminars, an annual event, was held last week in Traverse City, Michigan.
-
On The German Auto Industry
A look at several things that are going on in the German auto industry—from new vehicles to stamping to building electric vehicles.