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Home >> Business
UPDATED: 11:50, March 17, 2007
U.S. industrial output rebounds strongly in February
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U.S. industrial production rose in February by 1.0 percent, the biggest gain since November 2005, after having fallen 0.3 percent in the previous month, the Federal Reserve reported Friday.

The growth was much stronger than the 0.3 percent gain expected by analysts for February's industrial production, an indicator of the output of mines, factories and utilities.

The February advance was largely attributed to a 6.7 percent jump in the output of utilities, reflecting higher demand for natural gas and electricity amid colder-than-average winter temperatures in the month.

In the previous month, utility output rose by a moderate 2.2 percent.

Output in the manufacturing sector grew by 0.4 percent in February and was led by increases in motor vehicles and in high-technology goods. The gain came after the production fell by 0.3 percent in January.

The output of mines, including oil production, edged up 0.1 percent in the month, reversing a plunge of 1.3 percent in January.

Overall industrial output for February was 3.4 percent above the level in the same month of 2006.

The rate of capacity utilization, which reflects inflationary pressures for industry, rose 0.6 percentage point to 82.0 percent in February. It was 0.9 percentage point above its level a year earlier and 1.0 percentage point above its 1972-2006 average.

Source: Xinhua


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