WASHINGTON - Industrial production edged up 0.1% in March, the ninth consecutive monthly increase, but the growth was constrained partly due to storms, the Federal Reserve Board reported today.
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Capacity utilization increased to 73.2%, the tenth consecutive monthly increase and the highest level since November 2008, when it was 74.4%. Economists expected industrial production to rise 0.7% and a capacity utilization level of 73.3%, according to the median estimate from Thomson Reuters.
Production for February was revised to a 0.3% increase from an originally reported 0.1% uptick. Capacity utilization also was revised higher to 73.0% from 72.7%.
