Industrial Output Down In February, But Autos Up
U.S. industrial output dropped for the fourth straight month, as falling consumer spending continued to force factories to reduce production.
The Fed Reserve reported this morning that February industrial output dropped 1.4 percent, slightly worse than the 1.2 percent drop predicted by economists.
Factories last month across the nation operated at 67.4 percent of their capacity, the lowest levels since records began being kept in 1948.
Here's a breakout of February industrial output:
-- Utility-plant production was down 7.7 percent, with higher-than-normal temperatures last month.
-- Mining was off 0.4 percent.
-- Auto and auto parts production actually jumped 10.2 percent in February.
March 16, 2009; 10:25 AM ET
Categories: The Ticker | Tags: Federal Reserve, industrial output
Save & Share: Previous: Markets Open Up, Extend Last Week's Rally
Next: Citigroup Nominates Four New Independent Directors
The comments to this entry are closed.