Washington, DC, March 16--Industrial production rose 0.3 percent in February, according to a Federal Reserve report. The gain was in line with economists expectations.
Output rose a revised 0.1 percent in January. Industrial output has now risen for five consecutive months and is up 3.5 percent year-over-year.
Capacity utilization rose to 79.4 percent in February from a revised 79.2 percent in January. It's the highest utilization rate since December 2001. Economists were expecting 79.2 percent.
Consumer goods production rose 1.1 percent in February, after falling 0.5 percent in January.
Output of consumer durable goods rose 3.6 percent, boosted by a gain in the output of automotive products and a jump in the output of home electronics.
Output of motor vehicles and parts rose 5.1 percent after falling 1.5 percent in January. Excluding automobiles, industrial production would have been flat in February.
