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Today, the Federal Reserve released its monthly read of industrial production and capacity utilization. It showed an increase in March, with total industrial production climbing 0.41% since February and rising 3.47% above the level seen in March 2012.

Capacity utilization also improved, climbing 0.26% from February. It rose 1.53% above the level seen in March 2012 to stand at 78.48%. It's important to recognize that although the "recovery" is well over two years old, both industrial production and capacity utilization are notably below the peaks set in late 2007.

Source: Production Pullback: Industrial Production, March 2013