U.S. factory production rose in March by more than forecast, marking the third straight month of gains that show steady progress for manufacturers against a backdrop of gradually improving supply chains. The 0.9% increase followed a 1.2% gain in February, Federal Reserve data showed Friday. Total industrial production, which also includes mining and utility output, also rose 0.9% during the month and the gain in February was revised up. Manufacturing output increased at an annual rate of 5.4% in the first quarter. Total production grew an annualized 8.1%, the strongest since the end of 2020. Capacity utilization at factories rose to 78.7%, the highest since 2007, from 78.1% a month earlier. The pickup in the rate, which has climbed […]