Industrial production in the US rose below expectations in February

Industrial production in the US rose below expectations in February

According to the data released by the Fed, industrial production in the US increased by 0.1% in February.

Expectation increased by 0.4%.

Capacity utilization rate decreased from 78.3% to 78.2% while manufacturing industry production fell by 0.4% while it was expected to increase by 0.1%. This was recorded as a 2-month drop.

Meanwhile, industrial production in January was revised down to a 0.4% decline from 0.6%. The previous month, manufacturing industry production data were revised down to a 0.5% drop from 0.9%.

Today's figures show that trade policies and declining projections from China to Europe in major economies are causing turbulence in the sector. The ISM manufacturing index for February fell to 54.2, the lowest level since November 2016.