Industrial Production Unchanged in March

Industrial production remained unchanged in March for a second month, the Federal Reserve said Tuesday.

The unchanged figure for output from factories, mines and utilities was below economists’ projections of a 0.3% gain, Bloomberg reported.

Factory production, which makes up three-quarters of the total, declined 0.2% after a 0.8% gain in February.

Production of automobiles and parts increased 0.6% after a 0.8% gain the previous month, while factory production excluding autos decreased 0.3%.

Capacity utilization, which measures plant output, dipped to 78.6%, from 78.7% in February.

Manufacturing accounts for about an eighth of the U.S. economy and the factory sector is one of trucking’s largest and most important customers.