Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: SATURDAY, April 16, 1994 TAG: 9404180158
SECTION: BUSINESS PAGE: A6 EDITION: METRO
SOURCE: Associated Press
DATELINE: WASHINGTON LENGTH: Medium
The Federal Reserve also reported that the operating rate at industrial companies increased 0.2 percent to 83.6 percent, the highest since 83.9 percent in June 1989.
The Fed said many industries rebounded last month from slowdowns caused by winter storms and frigid temperatures.
Car and truck production fell as expected after reaching the highest level in decades. The Fed said 13 million motor vehicles were assembled in March at a seasonally adjusted annual rate, down from 13.9 million the month before. The last time assemblies ran at a 13 million pace was in the 1970s.
Electricity production dropped, as much of the nation emerged from the bitter winter chill. Utility output, which had surged 3.5 percent in January but declined 1.2 percent in February, was down 1.8 percent in March.
Production of durable goods, big-ticket items expected to last at least three years or more, rose 0.5 percent in March after gaining 0.8 percent in February. Nondurable goods were up 0.8 percent following a 0.5 percent rise in February.
Business equipment climbed 0.7 percent after a 1.1 percent advance in February. Construction supplies, aided by the moderating weather, rose 1.1 percent after declining 1 percent a month earlier.
Output at mines increased 1 percent on top of a 1.8 percent increase in February.
by CNB