Industrial Production Rose 0.1% in February

Washington, DC, March 15, 2024-Industrial production edged up 0.1% in February after declining 0.5% in January, according to the Federal Reserve.

In February, the output of manufacturing rose 0.8%, and the index for mining climbed 2.2%. Both gains partly reflected recoveries from weather-related declines in January. The index for utilities fell 7.5% in February because of warmer-than-typical temperatures. At 102.3% of its 2017 average, total industrial production in February was 0.2% below its year-earlier level. Capacity utilization for the industrial sector remained at 78.3% in February, a rate that is 1.3 percentage points below its long-run (1972–2023) average.