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U.S. Industrial Production Rises 1 Percent

Posted on: Friday, 16 March 2007, 12:00 CDT

U.S. industrial production rose 1 percent in February, after the previous month's 0.3 percent decrease, the U.S. Federal Reserve reported Friday.

February's production increase was the most since November, the Fed said.

Manufacturing output gained 0.4 percent in February, led by increases in motor vehicles and in high-technology goods, the central bank said.

All major market groups except construction supplies recorded February production increases. The output of consumer goods advanced 1.5 percent.

Utility output jumped 6.7 percent, as colder-than-average temperatures boosted electric and natural-gas production. The output of mines edged up 0.1 percent.

Overall industrial production for the month was 3.4 percent above its year-earlier level and 113.1 percent of its 2002 average, the Fed said.

Capacity utilization, which measures the portion of plants in use, rose to a five-month high of 82 percent from 81.4 percent.

Federal Reserve policymakers meet Tuesday and Wednesday to discuss interest rates. Most economists expect the Fed will leave interest rates unchanged.

Source: United Press International

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