by Mike ‘Mish’ Shedlock
The Federal Reserve Industrial Production and Capacity Utilization report shows Industrial production decreased 0.6 percent in March.
Revisions took February to -0.6 from -0.5, and January from +0.6 to +0.5.
Is the weather to blame?
The report shows “For the first quarter as a whole, industrial production fell at an annual rate of 2.2 percent. A substantial portion of the overall decrease in March resulted from declines in the indexes for mining and utilities, which fell 2.9 percent and 1.2 percent.”