US industrial production beat expectations in March
The US Federal Reserve (Fed) announced industrial production and capacity utilization data for March.
Accordingly, industrial production in the country increased by 0.4 percent in March compared to the previous month. Market expectations were for industrial production to increase by 0.2 percent in this period. Industrial production rose 0.2 percent in February.
Manufacturing industry production, on the other hand, decreased by 0.5 percent on a monthly basis in March. Expectations were for a 0.1 percent decrease in manufacturing industry production. Manufacturing industry production increased by 0.6 percent in February.
Capacity utilization rate in the country increased by 0.2 points in the same period and became 79.8 percent. The market expectation for the capacity utilization rate was 79 percent. The capacity utilization rate, which exceeded the market expectations, was recorded as 79.6 percent in February.