Industrial production in the United States increased in March at the same pace as in February, driven by the strong rebound in automobile production, according to data released Friday by the American Central Bank (Fed). The increase in total production was 0.9% in March, as in February, according to upwardly revised data also published on Friday. The increase is 5.5% compared to March 2021.
Growth is notably driven by the 7.8% jump in automotive production, which had been slowed for months by the global shortage of semiconductors, pushing up overall manufacturing output by 0.9 points.
The two other categories of industrial production are also on the rise: +0.4% for the production of public utility services (water, electricity), and +1.7% for mining production. The industrial capacity utilization rate climbed again, reaching 78.3%, which is still 1.2 percentage points lower than the average calculated between 1972 and 2021.