(MENAFN) According to the Federal Reserve, US industrial production fell sharply in March, pulled down by lower utility output as bad winter weather faded, The Peninsula Qatar reported.
Total industrial output fell 0.6 percent, after a minimal 0.1 percent rise in February. Utilities output slid 5.9 percent, largely reversing February's increase that was weather-related.
Mining output fell for the third straight month, but by a smaller 0.7 percent. Manufacturing eked out a 0.1 percent gain after two months of declines, while industrial output was up 2.0 percent in March.
As industrial output slowed, capacity utilization fell for the fourth month running, hitting 78.4 percent, well below the long-run average of 80.1 percent, the Federal Reserve said.
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