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US manufacturing improves in February

United States America,Business/Economy, Tue, 10 Apr 2012 IANS

Washington, April 10 (IANS) The US manufacturing improved in February as the industry continues its gradual recovery from the financial crisis in 2008.

 

The Chicago Fed Midwest Financial Index (CFMMI) rose one percent in February over January and 10.1 percent year-on-year, the Federal Reserve Bank of Chicago said Monday.

 

Nationally, the Federal Reserve Board's Industrial Production Index for Manufacturing rose by 0.4 percent in February, and 5.4 percent over the same time last year.

 

A strong performance in the automotive sector was one of the main forces driving manufacturing's February gains, as regional auto production increased 2.2 percent in February and a striking 18.7 percent year-on-year, Xinhua reported.

 


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