US Manufacturing Expanded in March, but Momentum Eased From February Surge: Fed

The Fed report also showed that the manufacturing sector grew at a 5.1 percent annualized pace in the first quarter.

Stacks of aluminum bricks frame an American flag at Wisconsin Aluminum Foundry in Manitowoc, Wis., on Sept. 21, 2020. Mark Makela/Reuters

U.S. manufacturing continued to grow in March, albeit at a slower pace than the brisk expansion seen the month prior, according to new data from the Federal Reserve, which comes amid President Donald Trump’s tariff-led push to reindustrialize the American economy and rebuild the country’s long-declining industrial base.

Factory output increased by 0.3 percent last month after an upwardly revised 1 percent rebound in February, the Fed said in its April 16 report. On an annual basis, output at U.S. factories advanced by 1 percent from March last year.