U.S. Plants Operating at 82.3%

U.S. industry operated at 82.3% of capacity in March, the second consecutive monthly decline, the Federal Reserve Board reported today. It said U.S. factories, mines and utilities saw their operating rate drop by 0.1% from February.

Analysts said the setbacks had been expected, given the fact that certain factories, in particular the auto industry, cut back on production during the first three months of the year in order to reduce high backlogs of unsold goods.