February 2019 Manufacturing Report

Manufacturing February 2019In a report released today, the Federal Reserve announced a rise in industrial production in February 2019.

Industrial production rose by 0.1 percent last month. However, manufacturing production fell by 0.4 percent – its second month of decline.

February’s drop in manufacturing production, along with a disappointing jobs report, added to analysts’ concerns of an overall economic slowdown in the early first quarter.

According to CNBC, both the fading effects of last year’s $1.5 trillion tax cut package as well as the trade war between the U.S. and China are contributing to the slowdown in manufacturing activity.

 

Industrial Production by Industry

Feb. 2019 % change vs.  Jan. 2019 Jan. 2019 Dec. 2018 Nov. 2018
Manufacturing 104.8 -0.4% 105.2 105.7 105.1
Construction 116.4 -0.5% 117.0 117.0 115.2
Consumer Goods 105.4 -0.1% 105.5 106.2 107.0
Nonindustrial Supplies 107.8 -0.1% 107.8 107.9 107.4

Sources: The Federal Reserve, CNBC

 

 


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