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U.S. Factory Production Rises on the Back of Strong Auto Output

Showing that U.S. manufacturing is one of the driving forces behind what may be a recovering economy, auto output lifted American factory production in February.

After decreasing by 0.3 percent in January, Factory output increased by a seasonally adjusted 0.8 percent in February with autos and auto parts leading the charge. Autos and auto parts jumped by 3.6 percent in the recently completed month, which was a sharp turnaround from the 4.9 percent it fell in January.

Buoyed by the positive numbers, Jim O’Sullivan, chief U.S. economist at High Frequency Economics, wrote in a note to clients, “Growth has clearly picked up… This is another positive sign.”

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