Industrial production declined 0.1% in February, reflecting a 4.5% drop in production at the nation's utilities and a 0.4% increase in factory production. Factory production accounts for the major part of the industrial production index.

Gains in factory production were spread across several categories during February - autos (+4.2%), wood products (+2.3%), computer and electronic products (+1.0%), furniture (+1.4%), and electrical equipment, appliance, and components (1.0%). The operating rate of the factory sector rose to 74.3% in February from 74.1% in the prior month and it still below the long-term average of 80.7%.

Asha Bangalore — Senior Vice President and Economist

http://www.northerntrust.com
Asha Bangalore is Vice President and Economist at The Northern Trust Company, Chicago. Prior to joining the bank in 1994, she was Consultant to savings and loan institutions and commercial banks at Financial & Economic Strategies Corporation, Chicago.

The opinions expressed herein are those of the author and do not necessarily represent the views of The Northern Trust Company. The Northern Trust Company does not warrant the accuracy or completeness of information contained herein, such information is subject to change and is not intended to influence your investment decisions.

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