US March industrial production +1.4% vs +2.5% expected

March US industrial production data

US March industrial production
  • 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%).

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