FX.co ★ US Capacity Utilization Falls Below Expectations

US capacity utilization declined to 75.7% in March 2026, down from a downwardly revised 76.1% in February and below market expectations of 76.3%. The rate is now 3.7 percentage points under its long-run average for 1972–2025, with weakness evident across most major sectors. Utilities recorded the steepest pullback, with the operating rate dropping to 70.3%, or 13.7 percentage points below its historical average. Manufacturing utilization slipped to 75.3%, leaving it 2.9 percentage points below its long-run norm, while mining utilization eased to 84.5%, just 0.7 percentage points below its long-run average.