Credit, Economy and Financial News from TruckingFactor.com

Industrial Output Falls Again in February

The Federal Reserve reported that industrial output fell 1.4% in February, the fourth straight monthly decline. The weak showing included a 0.7% decline in manufacturing output last month, which pushed the operating rate at the nation's factories down to 67.4% of capacity, the lowest level on record. Manufacturing output fell in February, despite a jump in production at the nation's auto plants following extended shutdowns in January. Production at auto plants and auto parts manufacturers grew 10.2% in February after four straight months of declines including a 24.7% plunge in January. Output in the mining industry slipped 0.4% and utility plant production fell 7.7%.

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Date Last Updated: 03/18/2009