This file photo taken on August 9, 2011 shows the US Federal Reserve building in Washington (AFP)
Washington: A sharp spike in heating demand in March drove US industrial output higher, but auto production fell dramatically in the month pulling manufacturing lower, the Federal Reserve reported yesterday.
The Industrial Production index jumped 0.5 percent last month, slightly more than the consensus forecast, pushed by the highest increase in utilities output ever recorded: an 8.6 percent surge as colder weather returned after the unseasonably warm February. But manufacturing output -- a key focus of President Donald Trump's administration -- fell 0.4 percent, after sixth straight months of increases, due to a three percent drop in motor vehicle and parts production, the report said. Factory output outside of motor vehicles and parts also declined, slipping 0.2 percent compared to February.
Overall manufacturing, which represents more than 70 percent of the Industrial Production index, is still 0.8 percent higher than a year ago, and "increased at an annual rate of 2.7 percent in the first quarter," the report said. Auto output is up 1.3 percent from the same month of last year.
