U.S. industrial output off unexpectedly in February

U.S. industrial production fell an unexpected 0.1% in February as utility output dropped sharply, the Federal Reserve reported Thursday.

Utility output fell 4.5% as unseasonably warm weather reduced the demand for heating, according to the central bank, which tallies up the production of the nation’s factories, mines and utilities each month.

The decrease stood in contrast to economists’ consensus forecast that had called for a 0.7% increase. See our economic calendar and forecasts.

Offsetting some of the weakness was an upward revision to January production. The Fed said industrial output rose 0.3% in the month, much stronger than the initial estimate of a 0.1% decline.

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- Posted: 2011-03-17 10:51:17

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