Connect With PPD
Follow Us:
Economy

Industrial Production Rebounded to Beat Forecast in February

The Federal Reserve reported industrial production rose 0.6% in February, rebounding from a 0.5% in January to beat the consensus forecast. The forecast range was a low of -0.4% to a high of 0.7%, with a consensus 0.4%.

Manufacturing output ticked up 0.1% excluding a large gain for motor vehicles and parts and a large drop for civilian aircraft. Factory output was unchanged. The forecast range was a low of -0.5% to a high of 0.5%, with a consensus 0.2%.

The index for mining fell 1.5%, but the index for utilities soared 7.1%, as unseasonably warm temperatures in January returned to typical levels.

At 109.6% of its 2012 average, the level of total industrial production in February was unchanged from a year earlier.

Capacity utilization for the industrial sector increased 0.4 percentage point in February to 77.0%, a rate that is 2.8 percentage points below its long-run (1972–2019) average.

The forecast range was a low of 76.5% to a high of 77.5%, with a consensus 77%.

READ FULL STORY

SubscribeSign In
PPD Business Staff

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

Share
Published by
PPD Business Staff

Recent Posts

Media’s Worst Russian Collusion Sins May Soon Be Repeated

The most damning journalistic sin committed by the media during the era of Russia collusion…

1 year ago

Study: Mask-Mandates and Use Not Associated With Lower Covid-19 Case Growth

The first ecological study finds mask mandates were not effective at slowing the spread of…

4 years ago

Barnes and Baris on Big Tech’s Arbitrary Social Media Bans

On "What Are the Odds?" Monday, Robert Barnes and Rich Baris note how big tech…

4 years ago

Barnes and Baris on Why America First Stands With Israel

On "What Are the Odds?" Monday, Robert Barnes and Rich Baris discuss why America First…

4 years ago

Personal Income Fell Significantly in February, Consumer Spending Weaker than Expected

Personal income fell $1,516.6 billion (7.1%) in February, roughly the consensus forecast, while consumer spending…

4 years ago

Study: Infection, Vaccination Protects Against Covid-19 Variants

Research finds those previously infected by or vaccinated against SARS-CoV-2 are not at risk of…

4 years ago

This website uses cookies.