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US industrial output rebounds in February, but misses forecast


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US industrial output rebounds in February, but misses forecast

U.S. industrial production rebounded in February, but fell short of expectations, as output from utilities jumped, data from the Federal Reserve showed.

The seasonally adjusted industrial production rose 0.1% month over month in February, compared to a 0.4% revised decrease in January.

The Econoday forecast was for a 0.4% monthly rise.

Manufacturing output dropped 0.4% in February following January's revised 0.5% fall, while the growth for mining output remained unchanged at 0.3%.

Meanwhile, the index for utilities jumped 3.7% from a level that was revised to show a negative reading for January.

Year over year, monthly industrial production was up 3.5% in February.

Industrial capacity utilization edged down 0.1 percentage point to 78.2% in February.