Industrial production continued to decrease in the month of March, according to a report released by the Federal Reserve on Wednesday, with a notable decline in mining output contributing to a bigger than expected drop.
The report showed that industrial production fell 1.5 percent in March, matching the decrease that was reported for the previous month. Economists had been expecting a somewhat more modest decrease of about 0.9 percent.
The Federal Reserve also said that the rate of capacity utilization fell to 69.3 percent in March from a revised 70.3 percent in February.
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