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Industrial Production in U.S. Increases More Than Forecast

Bloomberg (04/16/14) Shobhana Chandra

Industrial production increased more than forecast in March following a February increase that was twice as big as previously estimated, indicating that manufacturers have bounced back from the effects of adverse winter weather. Industrial output rose 0.7% after a revised 1.2% increase in February, according to the U.S. Federal Reserve. The 79 economists surveyed by Bloomberg had forecast a 0.5% increase. Manufacturing, which comprises 75.0% of total production, grew 0.5% after surging 1.4% in February.