1Q factory output rises
The Fed said that factory output edged down 0.1 percent in March but increased at an annual rate of 5.3 percent in the first quarter.
Capacity utilization for manufacturing in March moved down 0.2 percentage point to 76.4 percent, a rate that is 12.4 percentage points above its trough in June 2009 but still 2.3 percentage points below its long-run average.
Within manufacturing, the output of durable goods declined 0.2 percent in March after having risen 1.6 percent in February. Among durables, small to moderate losses were widespread in March, and decreases of more than 1 percent were observed in the indexes for primary metals and for electrical equipment, appliances, and components. These losses were mostly offset, however, by a large gain in the output of motor vehicles and parts and a smaller gain in the output of machinery.
Industrial production rose 0.4 percent in March after having increased 1.1 percent in February. For the first quarter as a whole, output moved up at an annual rate of 5.0 percent, its largest gain since the first quarter of 2012. Manufacturing output edged down 0.1 percent in March after having risen 0.9 percent in February; the index advanced at an annual rate of 5.3 percent in the first quarter.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
