Manufacturing
The Producer Price Index for the Net Output of Total Manufacturing Industries advanced 0.7 percent in February, following a 1.0- percent gain in January. Prices received by the chemical manufacturing industry group increased 0.5 percent, compared with a 1.6-percent rise in the prior month. The industry group indexes for beverages and tobacco, machinery, primary metals, electrical equipment and appliances, nonmetallic mineral products, and foods manufacturing also rose less in February than they did in the prior month. Prices received by transportation equipment manufacturers, as well as producers of medical equipment and supplies, moved down, after advancing in January. Alternatively, the industry group index for petroleum and coal products manufacturing jumped 6.5 percent in February, following a 3.4-percent increase a month earlier. Prices received by producers of wood products also rose more than they did in the previous month. In February, the Producer Price Index for Total Manufacturing Industries was 147.2 (December 1984=100), 5.7 percent above its year-ago level.
Services
Among services industries in February, prices received by commercial bankers fell 3.3 percent, after rising 4.9 percent in January. The industry indexes for lawyers, savings institutions, cellular and other wireless carriers, and courier services also turned down, following increases in the preceding month. Prices received by real estate agents and brokers were unchanged, after advancing in January. The industry indexes for direct health and medical insurance carriers, scheduled passenger air transportation, portfolio managers, and hotels (except casino hotels) and motels went up less in February than they did a month earlier. By contrast, prices received by the investment banking and securities dealing industry climbed 6.5 percent, following a 2.9-percent gain in January. The industry indexes for passenger car rental and radio stations turned up in February, after decreasing in the prior month, while prices received by the scheduled freight air transportation industry declined less than they did in January.
