US Factory Production Declines on Weaker Equipment Demand
- Manufacturing output fell by 0.5% in March, below forecasts
- Drop driven by a pullback in durable goods, like wood products
An American flag hangs at a factory in Fort Worth, Texas.
Photographer: Luke Sharrett/BloombergThis article is for subscribers only.
Production at US factories fell in March for the first time this year as companies show signs of ratcheting back investment plans.
The 0.5% drop in output last month followed an upwardly revised 0.6% increase in February, according to Federal Reserve data released Friday. Including mining and utilities, total industrial production climbed 0.4% in March.