U.S. industrial production slides

Mon Mar 16, 2009 10:20am EDT
 
[-] Text [+]

WASHINGTON (Reuters) - U.S. industrial production fell for the fourth straight month in February, driving output to its lowest level in nearly seven years, according to Federal Reserve data on Monday that pointed to a worsening economy.

The Federal Reserve said industrial production fell 1.4 percent after dropping by a revised 1.9 percent the prior month, which was previously reported as a 1.8 percent contraction.

Compared to the same period a year-ago, output declined 11.2 percent with the index now at 99.7, the lowest level since April 2002, the central bank said. Economists polled by Reuters had forecast production falling 1.1 percent in February.

(Reporting by Lucia Mutikani; Editing by Chizu Nomiyama)

 

Featured Broker sponsored link