Factories, Consumer Sentiment Show Gains

Fresh economic data showed the U.S. manufacturing sector pulling out of a deep slump and consumer sentiment on the upswing, reinforcing notions that the economy is emerging from recession.

The Federal Reserve said industrial output rose 0.4% in February, its strongest gain since mid-2000. With January figures revised upward, production posted its first back-to-back monthly gains since August and September 2000.

Separately, the University of Michigan released a poll showing that consumers were more upbeat in early March. The survey of consumer sentiment rose to 95 from February’s 90.7--the highest reading since December 2000.