March Industrial Output Signals Improvement in Supply

Summary Activity in the industrial sector of the economy broadly improved in March. More recent disruptions, such as closures of key Chinese factories and the continued conflict in Ukraine, pose near-term headwinds to U.S. manufacturing, but today’s report is the latest sign of incremental improvement in supply chains. Production Resilient in Face of New Supply Disruptions Industrial production rose 0.9% in March, more than double the gain expected by the consensus, while past data for February were also revised higher to show an equivalent 0.9% gain in output. Remarkably, this improvement in production comes amid new supply disruptions during the month with fresh lockdowns at key Chinese factories and the continued war in Ukraine. READ FULL ARTICLE>>