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- U.S. industrial production rises 0.1% in February
U.S. industrial production rises 0.1% in February
The Federal Reserve released its industrial production report on Monday. The U.S. industrial production increased 0.1% in February, missing expectations for a 0.3% rise, after a 0.3% drop in January. January's figure was revised down from a 0.2% increase.
The increase was driven by higher output of utilities. Utility output climbed by 7.3% in February.
Mining output dropped by 2.5% in February.
The U.S. manufacturing production decreased 0.2% in February, after a revised 0.3% fall in January.
Capacity utilisation rate fell to 78.9% in February from 79.1% in January. Analysts had expected a capacity utilisation rate of 79.5%.
The Fed tend to use capacity utilisation as a signal of how much "slack" remains in the economy.
These figures are pointing to a slower economic growth in the U.S. in the first quarter.
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