Daniel J. Meckstroth, Ph.D., vice president and chief economist
The manufacturing industrial production index fell by 0.1% in March after increasing by a strong 0.9% in February. On a year-over-year basis, the index is 2.5% higher than in March 2012. The March decline in manufacturing was broad-based, with 17 of the 25 industries examined posting a decline in production. What cushioned the downturn was that motor vehicles and parts production, a major industry in manufacturing, surged 2.9% in March. Economic Update

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