Factory Output Contracts Unexpectedly in January
Industrial production falls 0.6%, primarily driven by a large drop in vehicle production
WASHINGTON—U.S. industrial output fell sharply in January because of a large drop in vehicle production, adding fuel to rising worries about the current economic expansion.
Industrial production, a measure of factory, mining and utility output, decreased a seasonally adjusted 0.6% in January from the prior month, the Federal Reserve said Friday. It was unexpected. Economists surveyed by The Wall Street Journal expected a 0.1% gain at the beginning of the year.
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