US industrial production falls again in March | 2016-04-17 |

US industrial production falls again in March

17 April, 2016 12:00 AM printer

WASHINGTON: US industrial production fell for a second consecutive month in February, weighed down by a sharp drop in mining and a fall in manufacturing, the Federal Reserve reported Friday.
Total industrial output fell 0.6 percent, the same decline as in February. Analysts expected it would be unchanged, reports AFP.
Year-over-year, production was down 2.0 percent.
All major industry groups registered pullbacks in March, led by mining, which dived 2.9 percent, its largest monthly loss since September 2008 when production was curbed because of hurricanes, the Fed noted.
The March decline reflected large cutbacks in coal mining and in oil and gas well drilling and servicing, and decreases in oil and natural gas extraction. It brought the index for mining to a nearly 13 percent drop over the past 12 months.