US industrial production rises 0.1% in February

By Ovunc Kutlu

ISTANBUL (AA) - US industrial production increased 0.1% in February, compared to the previous month, according to the Federal Reserve data released on Friday.

The market expectation for the figure was to show no change, while the figure in January was revised to a decline of 0.5%, from a contraction of 0.1%.

Annually, industrial production in February was down 0.2% from the same month of the previous year, according to the Fed figures.

Manufacturing output, on the other hand, increased 0.8% in February from the previous month.

The market estimate for the figure was to show an expansion of 0.3%.

The figure for January was revised to a decline of 1.1%, from a 0.5% decrease.

Capacity utilization, which indicates overall growth and demand in the economy, remained unchanged at 78.3% in February.

That figure came in just slightly lower than market estimates of 78.5%.