News Summary: US Factory Production Bounces Back
By The Associated Press
FIRED-UP: A strong increase in auto output boosted U.S. factory production by a seasonally-adjusted 0.8 percent last month after falling 0.3 percent in January. Autos and auto parts production increased 3.6 percent.
BUSY BEES: Factories are running at nearly full speed to keep up with demand. Manufacturers are now using 78.3 percent of their capacity, the highest since the recession began in December 2007. But running near full capacity could lead to higher prices for manufactured goods and could push up inflation.
BROADER READING: Overall industrial production, which includes mining and utilities, rose 0.7 percent in February, the most in three months. Utility output jumped 1.6 percent while mining output, which covers oil and gas drilling, fell 0.3 percent.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts