In 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|
Sources: The Federal Reserve, CNBC
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