Factory data underscores economic momentum

By way of Lucia Mutikani WASHINGTON (Reuters) – U.S. manufacturing output bounced back in February in the newest signal of strength in an financial system that’s displaying clear momentum regardless of the headwind from government austerity. Whereas other studies on Friday confirmed a surge in gas prices brought about a spike in consumer inflation last month and eroded shopper sentiment in early March, the affect on the financial system was likely to be restricted and temporary. "It seems that real economic growth is on an upswing," stated John Ryding, chief economist at RDQ Economics in New York. Factory manufacturing increased zero. …