Industrial Production Declines 1.5%

Industrial production fell 1.5% in March, marking the fifth straight monthly downturn, the Federal Reserve said Wednesday.

The increase was greater than economists’ forecasts of a 0.9% drop, Bloomberg reported.

The decline in production at factories, mines and utilities followed a revised 1.5% downturn in February that was slightly greater than originally reported.

The share of industrial capacity in use fell to 69.3%, the lowest reading since such records began being kept in 1967.

The factory sector is one of trucking’s largest and most important customers.