Factory output in the United States rose in March more than expected. This output continued to grow for the third month in a row, according to what economic data showed yesterday. This indicates the steady progress made by industrial companies in light of the gradual improvement of supply chains.
According to “Reuters”, The US Federal Reserve stated, Factory output increased during the last month by 0.9 percent after increasing by 1.2 percent during last February.
At the same time, industrial output, which also includes the utilities and mining sectors, as well as manufacturing, recorded 0.9% last month.
The rate of utilization of the operational capacity of factories increased during the last month to 78.7 percent, the highest level since 2007, compared to 78.1 percent in the previous month.
The rate of exploitation has increased since April 2020 by nearly 18 percentage points. This indicates the companies’ success in filling their vacant positions. This allows companies to make progress in meeting their backlog of orders.
In a context relevant to the global economy, Japanese Finance Minister Shunichi Suzuki plans to meet with US Treasury Secretary Janet Yellen next week, After the value of the yen fell to its lowest level in 20 years against the dollar, According to informed sources.
The two sides plan to meet next Thursday, a day after a gathering of finance ministers from the Group of Twenty major economies. They may discuss a possible policy coordination in the foreign exchange market during their first bilateral personal talks, According to Japan’s Kyodo News Agency.
The yen fell yesterday in Tokyo to its lowest level against the dollar since May 2002, amid the possibility of a widening financial gap between the Bank of Japan and the Reserve Bank of the United States, which began tightening monetary policy to curb rising inflation.
Suzuki said at yesterday’s conference that a depreciation of the yen could be considered “bad” in a situation where material prices were not fully passed, And the salary increases are insufficient.