Factory Production in U.S. Rises for Fourth Time in Five Months
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U.S. factory output increased for the fourth time in five months amid gains in machinery and chemicals, extending a gradual recovery in manufacturing.
Production at factories, which make up about 80 percent of all output, increased 0.2 percent in January from the previous month, a Federal Reserve report showed Wednesday. That matched the median forecast in a Bloomberg survey. Total industrial output, which includes mining and utilities, fell 0.3 percent as warm weather reduced demand for heating, with utility production falling the most in 11 years.