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Industrial Production Flat In February

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Unread 03.16.12, 06:37 PM
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Industrial Production Flat In February

03.16.12 11:48 AM

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.

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