Output at U.S. factories increased more than expected in January even as a shortage of semiconductors weighed on the production of motor vehicles, pointing to resilience in the manufacturing sector recovery.
Manufacturing production rose 1.0% last month after gaining 0.9% in December, the Federal Reserve said on Wednesday.
That was the ninth straight monthly advance in factory production.
Economists polled by Reuters had forecast manufacturing output increasing 0.7% in January. Manufacturing, which accounts for 11.9% of the U.S. economy,.....