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U.S. January industrial output falls on weather, Boeing drop


Added 02-14-20 10:03:02am EST - “U.S. industrial production fell 0.3% in January as unseasonably warm weather hel...” - Reuters.com

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Posted By TheNewsCommenter: From Reuters.com: “U.S. January industrial output falls on weather, Boeing drop”. Below is an excerpt from the article.

WASHINGTON (Reuters) - U.S. industrial production fell 0.3% in January as unseasonably warm weather held down the output of utilities and Boeing Co (BA.N) slowed production of civilian aircraft, the Federal Reserve said on Friday.

The Fed said manufacturing production fell 0.1% in January, matching forecasts, but December’s manufacturing output was revised lower to a 0.1% gain from a previously reported 0.2% gain.

Overall industrial output for December was revised downward to a 0.4% reduction from a previously reported 0.3% drop.

Economists polled by Reuters had forecast industrial output would fall 0.2% in January, with manufacturing output forecast to be down 0.1%. On an annualized basis, production at factories fell 0.8% in January, mirroring the annualized drop in overall industrial production.

Production of aerospace and miscellaneous transportation equipment fell 7.4% in January after a 0.5% increase in December, the Fed said. The drop reflects Boeing’s halt this year of its grounded 737 MAX aircraft.

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