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Industrial production rose in February

WASHINGTON, March 15 (UPI) — Industrial production rose 0.7 percent in February after a drop of 0.1 percent in January, the U.S. Federal Reserve said Friday.

Manufacturing output rose 0.8 percent in February while output at utility companies rose 1.6 percent due to demand for heat during cold weather, the Fed said.

Production at mines in February fell 0.3 percent, the third consecutive month of declines for the category.

At 99.5 percent of its 2007 average, total industrial production in November was 2.5 percent above its year-earlier level.

The capacity utilization among industrial firms — the percentage of production compared to companies going at full steam — rose to 79.6 percent, a rate 0.6 percentage points below its long run average.

Copyright 2013 United Press International, Inc. (UPI).

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