From United Press International
WASHINGTON — American industrial production fell 0.2 percent in March, the U.S. Federal Reserve said Friday but was was 3.4 percent higher than in March 2003.
The Fed said industrial production rose 6.6 percent during first-quarter of 2004.
In March manufacturing output was flat, while mining production dropped 0.3 percent, and utility output decreased 2.3 percent due to unseasonably warm weather, the Fed said.
Consumer goods production fell 0.4 percent in March, with consumer durables output down 0.5 percent largely due to lower automotive products output. Production of consumer non-durables declined 0.3 percent, mostly due to lower sales of electricity and natural gas to residences, while non-energy non-durables production ticked upward by 0.1 percent.
Defense and space equipment production rose 0.6 percent, as did the index for construction supplies. Business equipment production declined 0.2 percent, as did information processing equipment output. Transit equipment production fell 1.8 percent.
Capacity utilization fell 0.2 percent to 76.5 percent last month.
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