March US industrial production data
- Prior was -2.2%
- Capacity utilization 74.4% vs 75.6% expected
- Manufacturing production +2.7% vs 3.6% expected
This is a disappointing reading but not likely to be a market mover. Utilities were a big drag at -11.4% on better weather in the month. Consumer goods were also soft at -0.5% but there is ongoing strength in construction supplies (+4.4%), durable goods (+3.0%) and the mining industry (+5.7%).