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Growth Rate Slows for U.S. Factory Production
Manufacturing activity in the U.S. expanded only 0.1% in March compared with 1.5% in February, according to the Federal Reserve.
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Manufacturing activity in the U.S. expanded only 0.1% in March compared with 1.5% in February, according to the Federal Reserve.
Annualized growth in quarterly production slowed to 3.1% in January-March from 5.5% in the previous quarter. Manufacturing accounts for 12% of the U.S. economy and 75% of overall industrial output.
Capacity utilization for factories making durable goods, including vehicle, slipped to 75.9% last month from 76% in February. The central bank says the output of vehicles and components grew 2.7% in March compared with 3.9% in February.
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