Industrial production jumps despite tumbling auto output

Industrial production, the Federal Reserve's measure of US goods output, was right in line with expectationsfor the month of March.Production increased by 0.5%, the exactincrease expected by economists. This was an improvement fromlast month's flat reading.Surprisingly, output for manufacturing firms fell 0.4%, much worse than the 0.1% gain expected, due to a steep decrease in auto manufacturing."Manufacturing output fell 0.4percent in March, led by a large step-down in the production of motor vehicles and parts; factory output aside from motor vehicles and parts moved down 0.2percent," said the Fed's release.Additionally, capacity utilization 'or the percentage of production capacity being used in the US ' rose to76.1% from last month's 75.4%,also in line with expectations.SEE ALSO:Markets are beginning to realize a Trump-fueled economic boom may not be comingJoin the conversation about this storyNOW WATCH: Children who eat too much sugar are developing diseases that only alcoholics used to get
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