Industrial production up in February
Industrial production increased 0.7 percent in February after having been unchanged in January.
Manufacturing output rose 0.8 percent in February, and the index revised up for the previous two months. In February, the output of utilities advanced 1.6 percent, as temperatures for the month were near their seasonal norms after two months of unseasonably warm weather. The production at mines declined 0.3 percent, its third consecutive monthly decrease. At 99.5 percent of its 2007 average, total industrial production in February was 2.5 percent above its level of a year earlier. The capacity utilization rate for total industry increased to 79.6 percent, a rate that is 0.6 percentage point below its long-run (1972--2012) average.
Factory output in February was 2.0 percent above its level of a year earlier. Capacity utilization for manufacturing moved up 0.5 percentage point in February to 78.3 percent, a rate 0.5 percentage point below its long-run average.
The production of durable goods moved up 1.2 percent in February, with increases recorded in most major categories of durables. The only decline among major industries was in the output of primary metals, which fell 2.6 percent. The largest rise was in the output of motor vehicles and parts, which climbed 3.6 percent after having fallen 4.9 percent in January. In February, gains of between 1.6 percent and 2.0 percent were recorded in the indexes for wood products, nonmetallic mineral products, fabricated metal products, machinery, and furniture and related products. Capacity utilization for durable goods manufacturing increased 0.8 percentage point to 78.7 percent, a rate 1.6 percentage points above its long-run average.
INDUSTRIAL SUPPLY MAGAZINE
The May/June issue of Industrial Supply magazine features an in-depth cover story about GHX Industrial. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
