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    Home » Industrial Production Climbs 5.5% in March
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    Industrial Production Climbs 5.5% in March

    April 15, 20221 Min Read
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    Total industrial production posted annual growth of 5.5% in March, driven mainly by the utilities and mining industries during the period.

     

    • The total index stood at 104.6, up by 0.9% from the previous month’s reading of 103.5 and 5.5% higher than the same month in the previous year. Capacity growth for the month grew by 0.7% annually.

     

    • In terms of industry groups, the utilities industry recorded an annual growth of 7.5%, followed by the mining industry, which grew by 7.0% year on year, and the manufacturing industry, which jumped by 4.9%.

     

    • For major market groups, the biggest annual growth was seen in materials production, which increased by 6.5%, followed by nonindustrial supplies production up by 5.0%, and consumer groups which increased by 3.0%. Final products gained 4.6%.

     

    The Federal Reserve is set to issue the annual revision to industrial production indexes in the second quarter.

     

    QQQ is down 0.15%, while SPY is up 0.01% premarket.

    Source: Federal Reserve

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