U.S. industrial output up in February

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U.S. industrial output up 0.7% in February
from MarketWatch.com - MarketPulse
WASHINGTON (MarketWatch)-- Industrial production rebounded in February after a weak report in the prior month on the back of stronger manufacturing and utility production, the Federal Reserve said Friday. Total production rose 0.7%, the Fed said, just above economists' forecasts of a 0.6% gain. January's production was revised slightly higher to flat from the initial estimate of a 0.1% drop. Output at factories alone increased 0.8% in February after a 0.3% drop in January. Utility production rose 1.6% due to the return of more normal winter temperatures. Over the past year, industrial output has risen 2.5%. Capacity utilization rose to 79.6% in February, the highest level since March 2008.