Keeping you up to date on the latest data releases.
- Industrial Production
Industrial production went unchanged (nonannualized) in February, following an upwardly revised estimate of 0.4 percent from 0.0 percent in January. On a year-over-year basis, overall production is up 4.0 percent. Manufacturing production increased 0.3 percent after having risen 1.1 percent in January. Breaking down the manufacturing sector, durable goods rose 0.4 percent in February, while nondurables gained 0.2 percent. Within durable goods manufacturing, nonmetallic mineral products, fabricated metal products, aerospace and miscellaneous transportation equipment, and electrical equipment, appliances and components all posted increases greater than 1.0 percent. Output for motor vehicles and parts decreased 1.2 percent for the month, but its three-month annualized growth rate continues to post strong gains of 54.2 percent. Mining output continues to slow, falling 1.2 percent, while utilities went unchanged as mild winter temperatures persist. Overall capacity utilization edged down 0.1 percentage points to 78.7 percent of capacity in February, still 1.6 percentage points below its historic average.