U.S. manufacturing output rises in February

Strong demand for machinery and steel led U.S. factories to increase production in February, according to Federal Reserve data that suggested a manufacturing slowdown could be easing.

Data released on Wednesday showed U.S. factory output rose 0.2 percent last month, which was a little stronger than the 0.1 percent gain expected by economists in a Reuters poll.

Overall industrial output fell 0.5 percent during the month, dragged lower by sagging oil production and a drop in utilities output.

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