U.S. industrial production slipped 0.1% in March
Manufacturing production was flat in March. Growing tensions with China and a slowing economy adds to the drop in factory output to an annual rate of 1.1%
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WASHINGTON – U.S. industrial production fell in March, pulled down by a drop in mining output. Factory output remained weak amid a slowing global economy and trade tensions with China.
The Federal Reserve says industrial output – combining production at factories, utilities and mines – slipped 0.1% in March from the previous month.
Mining output declined 0.8% but was up 10.5% from March 2018.
Manufacturing production was flat after dropping in January and February. In the first three months of the year, factory output fell at an annual rate of 1.1%.
Utility production rose 0.2% after a sharp 3.7% increase in February.
The U.S. and China have slapped tariffs on $350 billion worth of each other’s goods in a dispute over Beijing’s aggressive push to challenge U.S. technological dominance.