Industrial production increased 0.7 percent in February after a decrease of 0.3 percent in January.
The output of utilities jumped 7.9 percent in February, as the weather moved closer to seasonal norms after January's warm temperatures.
Mining output decreased 0.5 percent in February, and manufacturing production was unchanged after again of 0.8 percent in January.
At 110.9 percent of its 2002 average, overall industrial output in February was 3.3 percent above its February 2005 level. Because of the jump in utilities output, the rate of capacity utilization for total industry (rose 0.4 percentage point, to 81.2 percent, a level just above its 1972--2005 average of 81.0 percent. Capacity utilization in manufacturing edged down in February to 80.4 percent, a rate 0.6 percentage point above its 1972--2005 average.
MarketGroups
The output of consumer goods climbed 0.8 percent in February; the increase was driven primarily by a jump of 6.0 percent in the production of consumer energy goods.
The production of consumer durables increased 0.l percent.
The production gains for appliances, furniture, and carpeting and for miscellaneous goods were mostly offset by a decline of 1.8 percent in the index for home electronics; the output of automotive products was unchanged.
The output of non-energy non durable consumer goods decreased 0.2 percent; the indexes for paper products, chemical products, and clothing all moved down.
marketing@alchempro.com
