Total industrial production was unchanged month-over-month in February (consensus +0.5%) following an upwardly revised revised 0.3% increase (from 0.0%) in January.
The capacity utilization rate held steady at 78.0% (Briefing.com consensus 78.5%) following a downward revision to 78.0% (from 78.3%) for January.
The key takeaway from the report is that industrial production activity is softening, evidenced both by the year-over-year decline in total production and a capacity utilization rate that is near its lowest level since September 2021.