Industrial Production Rose 1.1% in February

Industrial production grew 1.1% in February after a downwardly revised 0.3% decrease in January, according to the Federal Reserve.

Manufacturing output grew 1.2% after posting a 0.2% decline last month. Production of durable goods increased 1.8%, while nondurable goods production rose 0.7%. Capacity utilization for manufacturing rose 0.9 percentage points to 76.9%, a rate that is 1.4 percentage points below its long-run average.

The output of mining surged 4.3% after falling 1.5% in January. The index in February was 9.7% higher than its year-earlier level.

Utilities fell 4.7% in February, after growing 1.3% in January. The index in February was 10.5% higher than its year-earlier level.

Read the Fed release.

About Stephen Newton

Stephen Newton is an economic research associate at ABA.
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