US: Industrial production unchanged in February

Industrial production in the United States was unchanged in February following a 0.1% decrease in January, according to the official report published by the Federal Reserve. 

Key findings

• In February, manufacturing output moved up 0.5 percent for its sixth consecutive monthly increase.
• Mining output jumped 2.7 percent, but the index for utilities fell 5.7 percent, as continued unseasonably warm weather further reduced demand for heating.
• At 104.7 percent of its 2012 average, total industrial production in February was 0.3 percent above its level of a year earlier.
• Capacity utilization for the industrial sector declined 0.1 percentage point in February to 75.4 percent, a rate that is 4.5 percentage points below its long-run (1972–2016) average.
• Capacity utilization for manufacturing rose 0.3 percentage point in February to 75.6 percent, a rate that is 2.8 percentage points below its long-run average.