US industrial production fell -0.3% MoM in March but on an annual basis was up 1.3% YoY.

• February industrial production growth was revised up by 0.1 ppt to 0.8% MoM.
• Manufacturing production was up 0.3% MoM but was offset by utilities production dropping -5.8% MoM.
• Within final product output, consumer goods production fell -1.0% MoM, and business equipment production jumped 1.7% MoM.
• Capacity utilization fell -0.4 ppts to 77.8% with manufacturing utilization edging up 0.2 ppts to 77.3%.
• In Q1, factory output expanded at an 5.1% annual rate.