Economics
U.S. Manufacturing Output Rose by More Than Forecast in January
- Factory production rises 1%, marking fourth-straight increase
- Fed’s index is now just 1.9% below pre-pandemic level
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Production at U.S. manufacturers rose in January by more than forecast, a fourth-straight monthly advance that shows factories continue to recover from pandemic-related disruptions last year.
Output at factories increased 1% from the prior month after a 0.9% gain in December, according to Federal Reserve data Wednesday that compared with economists’ estimates for a 0.7% rise.