Manufacturing Struggles With U.S. Dollar Rising, Oil Falling
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American factories produced more cars in March and little else as a strong dollar hampered exports and the plunge in oil prices cut into spending on new equipment.
The 0.1 percent gain in manufacturing output marked the first advance in four months and followed a 0.2 percent February decrease, according to Federal Reserve data issued Wednesday in Washington. Total industrial production dropped more than forecast. Other reports showed homebuilders gained confidence at the start of the second quarter, while factories in New York struggled.