Keeping you up to date on the latest data releases.
Industrial production edged down 0.1 percent (nonannualized) in February, following an upwardly revised 0.3 percent increase in January. Over the last 12 months, industrial production is up 5.5 percent. February’s decline in headline output can be traced to a 4.5 percent decline in utilities output, which was attributed to “unseasonably warm weather in February.” Manufacturing production increased 0.4 percent in February after a 0.9 percent gain in January, and it is up 6.9 percent over the past year. Durable goods production increased 0.9 percent in February, as gains were broad based across major categories with motor vehicles and parts (+4.2 percent) leading the increases. Nondurable output was unchanged and is up 3.2 percent over the last 12 months. Mining output rose 0.8 percent reflecting, higher extraction rates of crude oil and natural gas in February. Overall, capacity utilization dipped slightly (−0.1 percentage point) to 76.3 percent.