Mumbai, April 17 -- US factory production fell slightly in March after two months of strong growth, mainly due to a drop in motor vehicle output and other goods.
Manufacturing output decreased by 0.1% in March, following a revised 0.4% increase in February, according to the Federal Reserve. On a yearly basis, factory production was up 0.5% in March. For the first quarter, manufacturing grew at a 3.0% annualized rate, recovering from a 3.2% decline in the previous quarter.
Motor vehicle production dropped sharply by 3.7% after rising 2.6% in February. Output also declined in primary metals, machinery, and furniture. Durable goods production fell 0.2%, while nondurable goods edged down 0.1%. However, production of petroleum, coal, plastics,...