Keeping you up to date on the latest data releases.
- Industrial Production
Industrial production ticked up 0.9 percent (annualized rate) in February, despite winter storms in the Northeast that likely restrained production. The 3-month annualized growth rate in production stands at a relatively strong 5.9 percent, and has remained above 5.0 percent since last August. Manufacturing production dipped down 2.1 percent in February as output across industries was mixed. The largest decrease was to motor vehicles production, which fell 41 percent in February, after a 74 percent gain in January. On the upside, petroleum and coal output jumped up 29.7 percent during the month, reversing a 31 percent decrease in January. Also, the production of computer and electronic products jumped up 12.3 percent in February, nearly matching its 6-month growth rate of 12.5 percent. Helping to bolster the overall increase in February, mining output jumped up 26.9 percent, while utilities production increased 6.3 percent during the month. Capacity utilization increased for the eighth consecutive month, ticking up from 72.5 percent to 72.7 percent in February, but remains well below its pre-recession (November 2007) level of 80.5 percent.