In February 2024, industrial production increased 0.1% according to the U.S. Federal Reserve. Manufacturing output rose 0.8%. Both gains partly reflected recoveries from weather-related declines in January.
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The index for utilities fell 7.5% in February because of warmer-than-typical temperatures. At 102.3% of its 2017 average, total industrial production in February was 0.2% below its year-earlier level.
Capacity utilization for the industrial sector remained at 78.3% in February, a rate that is 1.3 percentage points below its long-run (1972–2023) average.
