Industrial Production Rises Seventh Straight Month

Washington, DC, Feb. 17, 2010--U.S. industrial production rose 0.9% in January, according to the Federal Reserve. Production is now up in seven straight months.

The increase in production was in line with forecasts of economists.

All of the leading indicators of industrial production pointed to a strong gain, including a gain in factory workers in January reported by the Labor Department.

Economists say that factories are benefiting from both a pickup in exports and the need to replace depleted inventories.

Industrial production has risen 0.9% over the past year.

Increases in output were widespread last month.

Manufacturing production increased 1.0% in January with most of its major components higher on the month.

Consumer goods production increased 1.1% in January after having risen 0.7% in December. Consumer durables production jumped 2.7%, while non-durables rose 0.7%.

The output of construction supplied rose 1.0% in January after a 1.7% drop in December.