U.S. Industrial Production Rebounds in February After January Decline

U.S. Industrial Production inched up 0.1% M/M in February, better than the +0.0% consensus and compared with the 0.5% decrease in January.

Manufacturing Production +0.8% vs. +0.3% expected and -1.1% prior. Gains reflected recoveries from weather-related declines.

Capacity Utilization 78.3% vs. 78.5% expected and 78.3% prior.

Mining output gained 2.2% in February compared with January's 2.9% slide.

Utilities output dropped 7.5% as electric and gas utilities fell 6.5% and 13%, respectively.