US manufacturing output increases to six-month high in February
UNITED States manufacturing output increased in February to its largest jump in six months with industrial production up 0.8 per cent, its biggest increase since August 2013, said the Federal Reserve.
The increase offset January's 0.9 per cent decline, the largest drop since May 2009, impacted by severe weather, which halted increasing strength in manufacturing, retail sales and employment.
The country's mines, factories and power plants saw a decline of 0.2 per cent in January. During February, mining production increased by 0.3 per cent against utilities which declined 0.2 per cent. @FAXTEXT = Industrial capacity increased to 78.8 per cent from January's 78.5 per cent.
Industrial capacity utilisation stood at 1.3 percentage points below its long-run average. This is an indication of companies use of resources. The Federal Reserve view this as a sign of the amount of "slack" in the country's economy before it becomes inflationary.
