Input Stories

U.S. industrial production rose unexpectedly in February (Federal Reserve).

What’s going on: U.S. industrial output increased 0.7% last month, exceeding January’s 0.3% increase and beating economist expectations of a 0.2% gain (Investing.com).

The details: Manufacturing, which accounts for more than 10% of the economy, grew 0.9% in February, boosted by an 8.5% jump in the motor vehicles and parts index.

• Mining output gained 2.8% on a monthly basis and was unchanged on an annual basis.
• Utilities production declined 2.5% compared to January and rose 8.7% compared to a year ago.

Capacity utilization: Factories’ capacity utilization—a measurement of potential future output—went up to 78.2% in February, 1.4 percentage points under the long-run average.

• On an annual basis capacity utilization rose 1.3% last month.