Industrial production in the U.S. increased by more than economists had been expecting in the month of February, according to a report released by the Federal Reserve on Friday.

The Fed said industrial production rose by 0.7 percent in February after coming in unchanged in January. Economists had expected production to increase by 0.5 percent.

The report also said that the capacity utilization rate rose to 79.6 percent in February from a revised 79.2 percent in January.