FX.co ★ US Industrial Output Falls More than Expected

In March 2025, industrial production in the United States experienced a decline of 0.3 percent, surpassing the anticipated market dip of 0.2 percent. The utilities sector notably contributed to this decrease, with a 5.8 percent fall due to unusually warm temperatures for the month. Specifically, electric utilities saw a 5.1 percent reduction in output, while natural gas utilities experienced a sharp decline of 11.1 percent. Conversely, manufacturing output saw an increase of 0.3 percent and mining output rose by 0.6 percent. Capacity utilization also saw a slight decrease to 77.8 percent, a figure that falls 1.8 percentage points below its long-term average from 1972 to 2024. Despite the decline in March, industrial production for the first quarter rose at an annual rate of 5.5 percent.