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Economic Report: Industrial production weakens further in March

Bloomberg News/Landov
Snow covers Fiat Chrysler Automobiles NV Jeep brand sports utility vehicles in Detroit. Auto production fell 12.8% in first quarter.

The numbers: Industrial production fell 0.1% in March, the Federal Reserve reported Tuesday. The gain was below Wall Street expectations of a 0.1% gain.

This is the fourth straight weak reading for industrial production. Production rose 0.1% in February after a 0.3% decline in January.

As a result, output in the first quarter slipped at a 0.3% annual rate after a 4% gain in the last three months of 2018. That’s the weakest since the third quarter of 2017.

What happened: Manufacturing output was unchanged in March after falling for the past two months.

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