Source: Federal Reserve
Industrial production in the US increased by 0.9% in March, the third straight month of advances, but slower than 1.2% in February. SPY is down -1.25%, DXY is up +0.18%.
- Following the February gains, the industrial output maintained an 8.1% elevation in the first quarter compared to the prior year. The index was 5.5% above the prior-year level.
- The output for motor vehicles and parts rose by 7.8% in March from February, while factory output edged higher by 0.4%. Utilities saw 0.4% gains, while the mining index climbed by 1.7%.
- The capacity output rose to 78.3%, which is a level 1.2 percentage points lower than its long-run average. The utilization has risen by almost 18% since the April 2020 lows.
- US economist at Oxford Economics Oren Klachkin says that the industrial production will stay elevated despite the recovery remaining tilted due to mixed goods demand.