US industrial production up 0.5 percent in March
April 19, 2017
WASHINGTON (AP) — U.S. industrial production posted a solid gain in March, reflecting a record rebound in utility output. But a closely watched gauge of manufacturing posted its first setback in seven months as auto production dropped sharply.
The Federal Reserve said Tuesday that industrial production rose 0.5 percent, propelled by an 8.6 percent surge in utility output, the largest on records dating to 1939. The utility gain reflected a return to normal demand for heating in March after an unusually warm February had cut demand.
Manufacturing output fell 0.4 percent last month, the firs...