Industrial Production Flat In February
March 16, 2012 by UPI - United Press International, Inc.
WASHINGTON (UPI) — Industrial production was flat in February after a rise of 0.4 percent in January, the U.S. Federal Reserve said Friday.
The January figure is revised from a month earlier, when the Fed said industrial production was unchanged from December.
In February, Manufacturing output rose 0.3 percent, including a 1.1 percent rise in motor vehicle production, a sharp drop from January’s 8.6 percent rise in the automobile industry.
Production at utilities in February was unchanged while production in U.S. mines fell 1.2 percent.
Capacity utilization — measuring production as a percentage of manufacturing, mining and utilities operating at full steam — dropped to 78.7 percent, which is 1.6 percentage points below its long-term average, the Fed said.