Financial News: U.S. Industrial Production Inches Slightly Higher In Febru

U.S. Industrial Production Inches Slightly Higher In February

03/15/2024 - 09:21:00 (RTTNews)

(RTTNews) - With manufacturing and mining output recovering from weather-related declines in January, the Federal Reserve released a report on Friday showing a slight increase in U.S. industrial production in the month of February.

The Fed said industrial production inched up by 0.1 percent in February after falling by a downwardly revised 0.5 percent in January.

Economists had expected industrial production to come in unchanged compared to the 0.1 percent dip originally reported for the previous month.

While manufacturing output climbed by 0.8 percent and mining output surged by 2.2 percent, the increases were largely offset by a 7.5 percent plunge in utilities output.

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