February industrial output rises in US

US industrial output edged up 0.1 per cent in February as expected, likely restrained by severe winter storms that hit parts of the country, the Federal Reserve said yesterday.

Economists polled by Reuters had expected a 0.1 per cent gain after an unrevised 0.9 per cent increase in January. Compared to the same period a year earlier, industrial production rose 1.7 per cent.

Manufacturing dipped 0.2 per cent last month after growing a revised 0.9 per cent in January, previously reported as a one per cent advance.

Mining increased two per cent.