Industrial Production Slips in March

The United States witnessed a 0.3% decline in industrial production this March, as reported by the Federal Reserve's Board of Governors. This downturn was notably influenced by a significant 5.8% drop in the utility index, attributed to warmer temperatures during the month.

Sector-Specific Growth Amid Overall Decline

Despite the overall decrease, not all sectors faced a downturn. The manufacturing and mining indexes saw positive movements, with increases of 0.3% and 0.6%, respectively. Business equipment also showcased resilience, marking a 1.7% increase, whereas consumer goods experienced a 1% decrease.

Non-Energy Materials Show Mixed Results

The non-energy materials sector presented a mixed bag, with durable non-energy components rising by 0.5%. However, the nondurable non-energy materials component remained stagnant, showing no change from the previous month.