Industrial production climbed in March, while manufacturing output dropped unexpectedly: Fed report
Factory output, though, fell unexpectedly in March, charting its biggest decline in seven months as auto production contracted in a check on the manufacturing sector's expansion, according to the Fed's latest report. The group said on Tuesday that manufacturing production dropped 0.4 percent last month. February's output was revised down to show a 0.3 percent gain instead of the previously reported 0.5 percent increase.