By Josh Boak, The Associated Press on March 15, 2019.
WASHINGTON – U.S. industrial production rose a slight 0.1 per cent in February, as an increase in utilities and mining offset the second straight monthly drop in manufacturing.
The Federal Reserve says that the manufacturing component of the index fell 0.4 per cent last month, after having fallen 0.5 per cent in January. Factory production has slipped 1 per cent during the past 12 months.
Motor vehicles and parts suffered a 0.1 per cent slip in output. Machinery fell 1.9 per cent. Furniture products declined 1.5 per cent. Non-metallic minerals and apparel also declined.
Utility output climbed 3.7 per cent as more people used electricity. Mining rose 0.3 per cent.
Overall industrial production has risen 3.5 per cent from a year ago. But there may be a slowdown coming as capacity utilization has fallen to 78.2 per cent from 78.8 per cent in November.
You must be logged in to post a comment.