Industrial production edged up 0.1% in February, the eighth consecutive monthly increase, but the growth was constrained partly due to winter storms, the Federal Reserve Board reported yesterday.
Capacity utilization increased to 72.7%, the fourth consecutive monthly increase and the highest level since December 2008. Economists expected industrial production to fall 0.1% and a capacity utilization level of 72.6%, according to the median estimate from Thomson Reuters.
Production for January was unrevised at a 0.9% increase. Capacity utilization was revised lower to 72.5% from 72.6%.
