March industrial output falls, signals weak Q1 GDP growth

Washington

US industrial production fell more than expected in March as manufacturing and mining production decreased, the latest indication that economic growth braked sharply in the first quarter.

Industrial output declined 0.6 per cent last month after a downwardly revised 0.6 per cent drop in February, the Federal Reserve said on Friday. Industrial production has fallen in six of the last seven months. Economists polled by Reuters had forecast industrial production slipping only 0.1 per cent last month after a previously reported 0.5 per cent drop in February.