US industrial production rose just 0.1 percent in February
WASHINGTON (AP) — U.S. industrial production rose a slight 0.1 percent in February, as an increase in utilities and mining offset the second straight monthly drop in manufacturing.
The Federal Reserve says that the manufacturing component of the index fell 0.4 percent last month, after having fallen 0.5 percent in January. Factory production has slipped 1 percent during the past 12 months.
Motor vehicles and parts suffered a 0.1 percent slip in output. Machinery fell 1.9 percent. Furniture products declined 1.5 percent. Non-metallic minerals and apparel also declined.
Utility output climbed 3.7 percent as more people used electricity. Mining rose 0.3 percent.
Overall industrial production has risen 3.5 percent from a year ago. But there may be a slowdown coming as capacity utilization has fallen to 78.2 percent from 78.8 percent in November.