US industrial production falls in February
US industrial production fell in February, dragged lower by declines in mining, hit hard by falling energy prices, and in utilities amid unseasonably warm weather, the Federal Reserve reported Wednesday.
Total industrial output fell 0.5 percent in February, more than the 0.3 percent decline analysts expected.
Overall industrial output was down 1.0 percent from the year-earlier level.
The broad picture of US industry showed continued weakness in mining production as companies cut back in the face of low oil and natural gas prices. Mining output dropped 1.4 percent in February and has fallen by an average of 1.3 percent per month over the past six months.
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