Monday, March 16, 2009

Industrial Production Continues Freefall (February)

Bloomberg reports:

Industrial production fell in February for the fourth consecutive month as auto cutbacks and collapsing exports spilled across the U.S. economy.

Output at factories, mines and utilities dropped 1.4 percent last month, more than forecast, after a revised decline of 1.9 in January, the Federal Reserve said today in Washington. The amount of factory capacity is use slumped to 70.9 percent, matching the lowest level on record.

Source: Federal Reserve

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