P121 CEEFAX 121 Sat 16 Apr 17:23/51       INDUSTRIAL ACTIVITY PICKS UP  The overall level of industrial output improved a little in February for the third month running. Manufacturing production, however, was down. While ovjtall output rose bz some 1.1pc, manufacturing output fell bz 1.2pc, a set-back attributable at least in part to the effects of the water- workjts' four-week strike. Overall output was 2.9pc higher than a year earlier, manufacturing down 1.2pc. * US industrial production rose bz 1.1pc last month.  ECONODATA ON 2 229 BBC2 