Monday, March 17, 2014

Industrial Production Rose 0.6% in February

Industrial production rose 0.6% in February, with manufacturing resuming healthy growth. Overall production is now 2.8% above year ago levels.

Manufacturing growth declined in January due the harsh winter weather, but recovered in February, expanding 0.8%. The productions of auto parts, which sharply declined in January, recovered 4.6% in February. The strong auto gains offset the 1.7% decline in the production of appliances, furniture and carpeting, which should rebound in March as the weather further improves.

Mining production grew 0.3% in February, the second month of growth. Utilities production dropped 0.2%, after spiking 3.8% the month prior due to the cold winter weather.

Read the Federal Reserve release.

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