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Economic Report: Industrial production edges up just 0.1% in disappointing start to the year

Reuters
The auto sector is wobbling as there has been a clear softening in sales

The numbers: Industrial production edged up 0.1% in February, the Federal Reserve reported Friday. The gain was below Wall Street expectations of a 0.4% rebound after a sharp drop in the prior month. January output was revised up to a 0.4% drop from the prior estimate of a 0.6% decline.

What happened: In February, the gains were concentrated in utility output and mining. Manufacturing fell 0.4%, the second straight monthly decline. The drop in manufacturing output in January was revised to a 0.5% decline from the prior estimate of a 0.9% fall.

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