US Manufacturing Output Rose in February

Output at U.S. manufacturers rose in February for a sixth consecutive month, underscoring a sustained rebound in the industry.

The 0.5 percent gain at factories, which make up 75 percent of overall industrial output, matched the prior month’s advance, marking the best back-to-back performance in three years, a Federal Reserve report showed Friday. Total industrial production, which includes mines and utilities, was unchanged as warm weather reduced demand for heating.

More appropriate levels of inventories, a recovery in global markets and stronger corporate spending on equipment have put manufacturers on firmer footing. The data support other figures showing an improving outlook for the nation’s factories.

The increase in manufacturing last month matched the median forecast in a Bloomberg survey. Economists’ estimates ranged from a decline of 0.1 percent to an advance of 0.8 percent. The prior month was revised up from an initially reported 0.2 percent increase. Factory output accounts for about 12 percent of the economy.

via Bloomberg

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza