Arab Today, arab today us industrial production rises
Last Updated : GMT 11:40:20
Arab Today, arab today
Arab Today, arab today

US industrial production rises

Arab Today, arab today

Arab Today, arab today US industrial production rises

Washington - SPA

Industrial production at U.S. factories, utilities, and mines rose 0.6 percent in February, the biggest increase since September, led by a strong rebound in manufacturing output after a severe winter caused a steep decline in January production, the government reported Monday.The Federal Reserve (Fed) said factory output—the biggest component of industrial production—surged 0.8 percent last month, nearly reversing a 0.9 percent drop in January that was mostly due to weather. The February gain was the largest in six months.Manufacturing rose in key categories in February, with automobile output rebounding 4.8 percent after a 5.2 percent plunge the previous month. Food production rose 1 percent, and home-electronic output increased 0.7 percent. There also were gains in machinery and fabricated metal products.Mining production rose 0.3 percent last month, but output at utilities fell 0.2 percent following a 3.8 percent surge in January.The amount of industrial capacity in use increased to 78.8 percent in February from 78.5 percent the previous month. Factories ran at 76.4 percent of capacity, up 0.5 percentage point from January and 2.3 percentage points below the long-run average.Manufacturing and the broader economy may be emerging from a winter slump. A rebound in factory output could drive faster growth in coming months, economists say.

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