US factory output extended solid gains in March - Beckley, Bluefield & Lewisburg News, Weather, Sports

US factory output extended solid gains in March

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WASHINGTON, DC (AP) -

U.S. factory output rose further last month, extending strong growth from February after harsh weather had caused production to tumble in January. Manufacturers produced more furniture, clothing, chemicals and aerospace products.

The Federal Reserve says factory production rose 0.5 percent in March after a revised 1.4 percent surge in February. Manufacturing output has climbed a solid 2.8 percent over the past 12 months.

Higher factory output is a sign of greater demand by businesses and consumers. The gains over the past two months point to a rebound after a winter slowdown in January and December stalled growth across the economy.

Overall industrial production, which includes manufacturing, mining and utilities, rose 0.7 percent in March. In February, industrial production had expanded 1.2 percent.

 

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