×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: manufacturing | output | factories | utilities

US Manufacturing Output Posts Largest Gain in Six Months

Monday, 17 March 2014 09:20 AM EDT

U.S. manufacturing output rebounded more than expected in February and recorded its largest increase in six months, in the latest sign that economic activity is gaining momentum after being dampened by severe weather.

Factory production increased 0.8 percent last month, its largest increase since August, the Federal Reserve said on Monday. That almost unwound January's 0.9 percent decline, which was the largest drop since May 2009.

Manufacturing added to other data such as retail sales and employment that have suggested the economy was regaining strength after abruptly slowing down at the end of 2013 and early this year as an unusually cold winter took its toll.

Last month, mining production rose 0.3 percent, but utilities output fell 0.2 percent. The rise in manufacturing and mining output helped to lift overall industrial production 0.6 percent in February.

Production at the nation's mines, factories and power plants had slipped 0.2 percent in January.

Economists polled by Reuters had expected manufacturing output to rise 0.2 percent and industrial production to edge up 0.1 percent last month.

Last month, the amount of industrial capacity in use increased to 78.8 percent from 78.5 percent in January.

Industrial capacity utilization, a measure of how fully firms are using their resources, was 1.3 percentage points below its long-run average.

Officials at the Fed tend to look at utilization measures as a signal of how much "slack" remains in the economy, and how much room there is for growth to run before it becomes inflationary.

© 2023 Thomson/Reuters. All rights reserved.


Economy
U.S. manufacturing output rebounded more than expected in February and recorded its largest increase in six months, in the latest sign that economic activity is gaining momentum after being dampened by severe weather.
manufacturing,output,factories,utilities
247
2014-20-17
Monday, 17 March 2014 09:20 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved