Industrial Production Falls 2.2% in February

Industrial production fell 2.2% in February. Total industrial production in February was 4.2% lower than its year-earlier level.

Manufacturing output decreased 3.1% in February. The indexes for durable, nondurable, and other (publishing and logging) manufacturing fell 2.6%, 3.7%, and 0.5%, respectively. The output of utilities increased 7.4%, as winter weather boosted demand for heating. Mining production decreased 5.4%; a drop of more than 6% for oil and natural gas extraction accounted for most of the loss.

Read the Fed release.