Factory growth slows

January's 0.9 percent surge followed a revised 0.7 percent rise in December.
February's production growth was "likely held down somewhat by winter storms in the Northeast," the Fed said.

In February, production at mines rose 2 percent and production at utility companies rose 0.5 percent.

The Fed said production of consumer goods dropped 0.4 percent, with durable good production off 2.3 percent compared to January. Production of non-durable goods rose 0.1 percent.

The Fed said its monthly industrial production index hit 101 percent of the average figures compiled in the base year of 2002.

In February, capacity utilization -- output compared with production at full capacity -- rose 0.2 of a percentage point to 72.7 percent, which is 7.9 points below its 1972 through 2009 average, the Fed said.

Copyright 2010 United Press International.