US factory output rises

U.S. factory output rose in February, fueled by a jump in auto production, according to government data on Friday. Factory output rose 0.8 percent in February from January, after falling 0.3 percent in the previous month, the Federal Reserve (Fed) said. The biggest gain was in autos and auto parts, where production increased 3.6 percent after falling 4.9 percent in January. Car sales have risen steadily this year after reaching a five year high in 2012. Overall industrial production rose 0.7 percent in February, increasing the most in three months. Utility output jumped 1.6 percent while mining output, which covers oil and gas drilling, fell 0.3 percent for the third consecutive decline.