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Industrial production continues to increase despite winter weather

Wednesday, March 17, 2010

Winter weather didn't stop industrial production from increasing in the country.
Winter weather didn't stop industrial production from increasing in the country.

The Federal Reserve Board recently reported that industrial output increased in February.

On a month-to-month basis, industrial output posted a 0.1 percent gain during the second month of the year. On a year-to-year basis, industrial production increased 1.7 percent from 2009 to 2010.

February marked the eighth straight month that production posted a gain, thought it was lower when compared to previous months. January notched an increase of 0.9 percent, while December saw output rise 0.7 percent.

"Production was likely held down somewhat by winter storms in the Northeast," the Fed said.

Supplies used by those who may operate construction equipment also showed increased output during the second month of 2010. When compared to January, production of construction supplies was up 0.3 percent. However, a year-over-year comparison shows that they dropped 4.5 percent.

While construction supplies saw a small improvement, a recent report showed that last year's exports of U.S.-made construction equipment declined. The Association of Equipment Manufacturers said that exports declined 38 percent in 2009, though the end of the year did see improvements.
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