WASHINGTON (AP) — American industry rebounded last month as the United States recovered from an unusually frigid February.
Industrial production — including output at factories, mines and utilities — rose 1.4% in March, reversing a 2.6% drop in February, the Federal Reserve reported Thursday.
Output rose 2.7% at factories and 5.7% at mines. Utility production plunged 11.4%, a record, as the weather warmed in March and Americans turned down the heat.
American industry has proven resilient through the coronavirus crisis. The Institute for Supply Management, an association of purchasing managers, reported earlier this month that U.S. factories expanded in March at the fastest pace in 37 years as federal aid flowed through the economy and the rollout of vaccines encouraged a return to normal business activity.