U.S. manufacturing output has experienced its largest increase in a year, easing concerns over a potential downturn in the sector. This growth was primarily driven by a significant rise in automotive production. According to data released by the Federal Reserve, manufacturing output, which accounts for three-quarters of the total industrial production, rose by 0.9%.
Overall industrial production increased by 0.7%, with the previous month's data revised down to a 0.3% growth. While utility output declined in February, the mining sector saw a 2.8% increase. Excluding the automotive sector, manufacturing output still showed a 0.3% rise, marking the third consecutive month of growth.
