Industrial Production Rises 0.7% in February

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ndustrial production in the United States rose 0.7% in February and the proportion of industrial capacity in use rose to its highest level since August 2001, the Federal Reserve said Monday.

The increase in production at factories, mines and utilities was the fifth in the past six months and followed a 0.8% rise in January.

The manufacturing sector is one of trucking’s largest and most important customers, and when it is growing, the demand for trucking services generally rises.

Economists said increased consumer spending has kept inventories lean and has prompted factories to boost production to restock shelves and warehouses, Bloomberg reported.

Work at factories, which accounts for almost 90% of industrial production, rose 1% last month after rising 0.2% in January.

Production of consumer durable goods, which includes automobiles, furniture and electronics, rose 1% after increasing 0.7% the previous month, the Fed said.

Business equipment production, such as transportation and information processing equipment, rose 1.1% in February after increasing 0.6% the previous month.

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