The Federal Reserve released its industrial production report on Friday. The U.S. industrial production slid 0.6% in March, missing expectations for a 0.1% decrease, after a 0.6% drop in February. February’s figure was revised down from a 0.5% decrease.
The decline was mainly driven by a drop in mining. Mining output fell 2.9% in March, while utilities production declined 1.2%.
Manufacturing output fell 0.3% in March, after a 0.1% decrease in February.
Capacity utilisation rate decreased to 74.8% in March from 75.3% in February, missing expectations for a rise to 75.4%. February’s figure was revised down from 76.7%.
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