Industrial Production Unchanged in February

Industrial production was unchanged in February as factory output increased at the slowest pace in three months, the Federal Reserve said Friday.

The unchanged figure for output from factories, mines and utilities followed a revised 0.4% increase in January that was originally reported as no change.

The February reading was below economists’ projections of a 0.4% gain, Bloomberg reported.

Factory production, which makes up three-quarters of the total, increased 0.3% after a revised 1.1% gain in January, Bloomberg said.

Production of automobiles and parts fell 1.1% after an 8.6 % jump the previous month, while factory production excluding autos rose 0.4%.

Capacity utilization, which measures plant output, dipped to 78.7%, from 78.8% in January.

Manufacturing accounts for about an eighth of the U.S. economy and the factory sector is one of trucking’s largest and most important customers.