Snowstorms curb industrial output, rebound seen
Snowstorms curb industrial output, rebound seen
Snowstorms curb industrial output, rebound seen
(Reuters) - U.S. industrial production braked sharply#x in February, held back Vitamin E Softgelby severe winter storms that slammed parts of the country,中小企业国际市场开拓资金, while manufacturing activity in New York state stalled this month.
Analysts said Monday's data did not alter their views that the factory-led economic recovery remained on track, given weather disruptions and the fact details of the reports showed underlying strength. They expect a rebound in industrial production in March.
The reports came ahead of a Federal Reserve meeting on interest rates on Tuesday. The U.S. central bankVitamin E Softgel is expected to hold overnight interest rates in a range of zero to 0.25 percent and maintain a pledge to keep them ultra-low for an "extended period" to nurture the recovery.
While U.S. manufacturing output fell in February, it rose outside of the auto sector, and mining activity posted a strong gain, leading overall industrial output to rise slightly. In addition, factory employment, shipments and unfilled orders in New York state all rose this month.
"The two reports were positive for the economy and they do indicate that the factory sector will make a positive contribution to growth in the first quarter," said Kenneth Kim, an economist at Stone & McCarthy Research Associates in Princeton, New Jersey.
The Federal Reserve said industrial output edged up 0.1 percent last month after increasing 0.9 percent in January, in line with market expectations. They blamed the slowdown on inclement weather. The report also showed the amount of the nation's industrial capacity in use hit the highest level in more than a year.
Although February's snowstorms #xaffected industrial output, they had a minimal effect on activities like retail sales as people whose shopping had been impacted or delayed Vitamin E Softgelheaded to the malls after the blizzards.
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