BUSINESS MEMO: PRODUCTION UP

Industrial production leaped ahead in January at its strongest rate in nearly 18 months as the output of a wide range of goods including cars, computers and carpets all posted big gains.

The booming U.S. economy -- fed by robust consumer and business spending -- and a pickup in overseas' demand for U.S. goods as countries continue to recover from a global financial crisis were the main factors behind the surge, economists said.

"The need for manufacturers to keep up with torrid demand both foreign and domestic had factories running full throttle during January," said Richard Yamarone, an economist with Argus Research Corp.