U.S. manufacturing output was unchanged in March after two straight monthly declines, leading to the largest quarterly decrease in production since 2017.
The Federal Reserve said on Tuesday manufacturing production last month was restrained by weak motor vehicle output. Economists polled by Reuters had forecast manufacturing output edging up 0.1 percent in March. Production at factories dropped at a 1.1 percent annualized rate in the first quarter. That was the first quarterly drop since the third quarter of 2017.
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