US industrial output rises again

I think that suprising is that the US industrial production has increased for the eighth month in a row, beating expectations of a fall.



Levels of production were "held down somewhat by winter storms in the Northeast" according to the Federal Reserve, which publishes the data.
Overall industrial output was up 0.1% in February, compared with January.
In the same period the manufacturing sector fell 0.2%, but the output of mines rose 2% and the index for utilities went up by 0.5%.
The production of consumer goods fell 0.4% in February, much of it because of a 4.4% decline in the car sector.


"The underlying trend in output is still rising," said chief of US economist at High Frequency Economics, explaining that surveys of the manufacturing sector point to stronger gains ahead.


"Whatever happens to the monthly numbers, the level of output is still hugely depressed relative to the pre-Lehman position."
Relative to a year ago, industrial production was 1.7% higher in February this year than February 2009.