Economy: Factory Output Rises Most in Six Months
Bloomberg reported that factory production rose in February by the most in six months, showing manufacturing will help the U.S. economy emerge from a weather-related setback.
Bloomberg said, based on data from the Federal Reserve, the 0.8% gain exceeded the highest estimate in a Bloomberg survey and followed a revised 0.9% slump in January.
Bloomberg noted that the data point to an expansion that will keep improving as temperatures warm, one reason why Fed policy makers this week will probably stick to their strategy of reducing the pace of monthly bond purchases.
To read the entire Bloomberg report, click here.