• Manufacturing output increased 1.0% last month, the Federal Reserve said on Wednesday. Data for December was revised down to show production at factories declining 1.8% instead of the previously reported 1.3%. Economists polled by Reuters had forecast factory production would increase 0.8%.
• Output gained 0.3% on a year-on-year basis in January. Manufacturing, which accounts for 11.3% of the U.S. economy, has seen demand for goods, usually bought on credit, undercut by higher interest rates.