US industrial production up 0.1% in Feb, manufacturing output up 0.8%

17 Mar '24

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US industrial production rose by 0.1 per cent in February after falling by 0.5 per cent in January, the Federal Reserve said.
Capacity utilisation for the industrial sector was 78.3 per cent in the month.
Manufacturing output in the month rose by 0.8 per cent after falling by 1.1 per cent in January. The output of most major market groups rose in February.

US industrial production edged up by 0.1 per cent in February after declining by 0.5 per cent in January. Manufacturing output in the month rose by 0.8 per cent after declining by 1.1 per cent in January, according to the Federal Reserve (Fed).

At 102.3 per cent of its 2017 average, total industrial production in February was 0.2 per cent below its year-earlier level.

Capacity utilisation for the industrial sector remained at 78.3 per cent in February, a rate that is 1.3 percentage points below its long-run (1972–2023) average.

The output of most major market groups moved up in February. An exception was the index for consumer goods, which declined by 1.4 per cent.

Within materials, all market groups posted gains except energy materials, the output of which fell by 0.2 per cent, a Fed release said.

Capacity utilisation for manufacturing increased by 0.6 percentage point to 77 per cent in February, a rate that is 1.2 percentage points below its long-run average.

Fibre2Fashion News Desk (DS)

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