Production at U.S. factories edged up in February and output in the prior month was stronger than expected, but manufacturing struggles under the weight of higher interest rates.
Manufacturing output gained 0.1% last month, the Federal Reserve said on Friday. Data for January was revised up to show production at factories increasing 1.3% instead of the previously reported 1.0% rise.
Output fell 1.0% on a year-on-year basis in February. Source: Reuters
Looking ahead to next week: The February numbers on existing home sales will be released on Tuesday. The Fed’s interest rate decision will be released at 2 p.m. EDT on Wednesday, followed by Fed Chairman Jerome Powell’s press conference at 2:30 p.m. The February data for new home sales will be released on Thursday, followed on Friday by the report on durable goods for February. Source: MarketWatch.com
