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U.S. industrial and manufacturing output both increased more than expected in February, according to data released by the Federal Reserve on Friday. Industrial output climbed 0.7 percent month over month, ahead of expectations for 0.5 percent growth, while manufacturing output increased 0.8 percent for the period, ahead of expectations for 0.3 percent growth.
The Fed’s industrial production index is updated monthly, and covers manufacturing, mining, and electric and gas utilities. Real output and capacity utilization are measured against a base year, which is currently set at 2007. For February, total industry capacity was 79.6 percent of what it was in 2007, a convenient measure to gauge recovery relative to the crisis…
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