March industrial production climbs 0.7%, tops forecast
Industrial production grew more than forecast in March, and February's
data was revised higher to show the biggest monthly advance since May
2010, according to data released by the Federal Reserve on Wednesday.
Industrial production grew 0.7%, topping the 0.5% seen in a
MarketWatch-compiled economic forecast, and February's gain was revised
to 1.2% from an initially reported 0.7%. The gains mean that production
grew an annualized 4.4% in the first quarter. Capacity utilization rose
in March to 79.2% from an upwardly revised 78.8% in February, topping
the MarketWatch consensus of 78.7%
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