The Federal Reserve recently announced that manufacturing output was down in March. The decline was unexpected and represented the largest drop in seven months. Specifically, the Fed explained that manufacturing production was down 0.4% in March. Output in February was revised in a southward direction to show a gain of 0.3% rather than the previously announced 0.5% increase. The manufacturing index decline in March was the first loss since last August.
Overall U.S. industrial production rose 0.5 percent in March because of an 8.6 percent weather-driven surge in utilities generation, the Federal Reserve said on Tuesday. Read More