US manufacturing on the rise

US manufacturing on the rise


US industrial production rose more than expected last month – another clear sign US manufacturing is on the rebound.

Output at factories, mines and utilities climbed 0.7 percent, according to data from the Federal Reserve in Washington.

Economists polled by Reuters had expected industrial output to rise 0.4 percent.

Manufacturing output rose 0.8 percent during the month, bouncing back from a decline in January.

“It looks like a pretty good quarter for manufacturing,” said Michael Feroli, chief U.S. economist at JPMorgan Chase & Co. in New York.

“Capital goods are doing well, autos came back a little bit and there’s strength in consumer goods. It’s looked pretty broad- based.”

General Motors Co (GM) and Ford Motor Co expect vehicle sales – on pace for the best year since 2007 – will remain resilient.

Cars and light trucks sold at a 15.3 million annual rate in February after 15.2 million a month earlier, according to data from Ward’s Automotive Group.

And retail sales increased 1.1 percent in February, according to latest Commerce Department figures.

Related news & editorials

  1. 22.03.2018
    by      In
    The Fair Work Commission gave the OK for the construction, textiles, and maritime unions to merge into a new "super union", but the proposal has been meeting pushback from established employers.
    In a response to the merger bid, the commission said it would allow the Construction, Forestry, Mining... Read More
  2. 22.03.2018
    by      In
    A South Australian advanced manufacturing company will use the Land 400 project to climb out of the 'valley of death' and grow its defence business.
    Adelaide-based Plasteel SA is among a number of specialist Australian companies partnering with Rheinmetall Defence Australia, which was last week... Read More
  3. 22.03.2018
    by      In
    Swinburne university has established the Joint Research Centre in Advanced Manufacturing in Weihai Economic and Technological Development Zone in Shandong, creating further connections between industry in Australia, China and South Korea.
    The centre is a partnership between Swinburne, Shandong... Read More
  4. 20.03.2018
    by      In
    The NSW Government has announced a one-off package of up to $47 million to help local government and industry to respond to China’s National Sword policy.
    The announcement came from Environment Minister Gabrielle Upton, who said: “NSW has a strong kerbside recycling system and the Government,... Read More