Industrial Production Rises Despite Bad Weather

Monday, 15 March 2010 09:33 AM EDT ET

Industrial production edged up 0.1 percent in February, beating expectations and marking the eighth straight monthly increase. But the key manufacturing sector produced less, showing that economic recovery is still a ways off.

The Federal Reserve reported Monday that manufacturing, the index's largest component, fell 0.2 percent; while mining and utilities increased by 2.0 percent and 0.6 percent, respectively.

It was a return to more measured gains after January's 0.9 percent increase. But the index's consistent gains suggested the economic recovery is durable, if muted.

Manufacturing took a hit from major winter storms that shut down most of the Northeast in February, but the increased demand for heating energy boosted mining and utility production.

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Economy
Industrial production edged up 0.1 percent in February, beating expectations and marking the eighth straight monthly increase. But the key manufacturing sector produced less, showing that economic recovery is still a ways off.The Federal Reserve reported Monday that...
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2010-33-15
Monday, 15 March 2010 09:33 AM
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