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.
While still in positive territory, the March reading suggests a deceleration in growth from February, when manufacturing activity surged in what was Trump’s first full month back in office. That acceleration had fueled hopes of a broader industrial revival, bolstered by parallel indicators from the Institute for Supply Management (ISM) and S&P Global, both of which painted a picture of renewed momentum, with indicators pointing to rising orders, stronger output, and increased hiring across factory floors….