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U.S. Industrial Production Rebounds Slightly in February, Misses Estimates

U.S. Industrial Production Rebounds Slightly in February, Misses Estimates

U.S. Industrial Production Rebounds Slightly in February, Misses Estimates
Economic Indicators
Friday, March 15, 2019 - 13:15

Investing.com - U.S. industrial production rebounded only weakly in February, stoking concerns that the slowdown at the end of last year could extend well into 2019.

Output inched up 0.1% last month after declining 0.4% in January, according to Federal Reserve data released Friday. Economists had forecast an increase of 0.4%.

In year-on-year terms, the rate of output growth fell to 3.5% from 3.8% in January. That’s the smallest increase since May 2018.

Meanwhile, manufacturing production declined 0.4%, disappointing estimates for a 0.3% gain.

Industrial output has been slowing around the world in recent months on fears of an escalation of the trade war between China and the U.S. and a disorderly departure from the European Union by the U.K.

China’s factory output grew at only 5.3% year-on-year in February, the slowest rate in 17 years. Germany’s output fell for the third month out of four in January, the latest month for which data are available.

© Reuters.
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