US data show flat industrial output, higher inflation and lower consumer confidence

US economic data on Friday were not as positive as usual.

Industrial production was unchanged in February despite a 0.3 percent increase in manufacturing output. However, January production was revised up to show a 0.4 percent increase from an initial flat reading.

Capacity utilisation fell to 78.7 percent from 78.8 percent in January.

However, the consumer price index rose 0.4 percent in February. This was more than the 0.2 percent increase in January.

The increase in the CPI was mostly due to a 6.0 percent jump in the price of gasoline. Consumer prices excluding food and energy rose just 0.1 percent.

Higher inflation is nevertheless hurting consumer sentiment. The Thomson Reuters/University of Michigan consumer sentiment index fell to 74.3 in March from 75.3 in February as one-year inflation expectations rose to 4 percent in March from 3.3 percent in February.