By: John Carney
The factory sector came roaring back in President Trump’s first full month in office.
Industrial production in the United States surged in February, rising 0.7 percent, more than triple the 0.2 percent increase economists had expected. The latest data from the Federal Reserve marks a significant expansion in industrial activity, with total output reaching its highest level on record.
Manufacturing output, which accounts for roughly three-fourths of total industrial production, rose 0.9 percent, the largest monthly gain in a year. A particularly notable driver of February’s expansion was the auto sector, where motor vehicle and parts production jumped 8.5 percent. That sharp increase stands in stark contrast to the sector’s performance during the final year of the previous administration, when auto output declined by an average of 0.5 percent per month.
