US industrial production fell more-than-expected in March

FXStreet (Mumbai) - The data released by the commerce department in the US on Wednesday showed the industrial production in March fell 0.6%, compared to the estimate of a 0.3% fall. The industrial production in February had increased 0.1%.

Capacity utilization missed the estimate of 78.6% to print at 78.4% in March, compared to 79% last month. Auto production is the only sector which witnessed a growth of 3.2%. Utility output fell 5.9%, mining fell 0.7%, oil and gas well drilling fell 70% on an annualized rate in the last quarter. Construction materials dropped 0.9%.