US factory output picks up in February for 2nd month

US factory output picks up in February for 2nd month
In this Monday, Sept. 14, 2015, photo, welder Gabriel Gonzalez welds a support beam at a local welding shop in Hialeah, Fla. On Wednesday, March 16, 2016, the Federal Reserve reports on industrial production for February. (AP Photo/Alan Diaz)

U.S. factories produced more machinery, appliances and computers last month, the second straight increase in output and a sign manufacturing is stabilizing after a difficult year.

The Federal Reserve says factory production rose 0.2 percent in February, after rising 0.5 percent the previous month.

The gains suggest that U.S. manufacturers are overcoming challenges from the strong dollar and weak overseas growth, which have cut into exports. Factories added jobs last year at the weakest pace since the recession ended in 2009.

Overall industrial production, which includes utilities and mining, fell 0.5 percent last month, the fourth drop in five months. Utility production plunged 4 percent as lowered demand for heat.

And mining output, which includes oil and , fell 1.4 percent, a result of low oil prices.


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Citation: US factory output picks up in February for 2nd month (2016, March 16) retrieved 24 August 2019 from https://phys.org/news/2016-03-factory-output-february-2nd-month.html
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