Industrial production declined in the first three months of the year for the first time since the third quarter of 2017, and that could signal economic growth is weaker than some economists are forecasting. Total industrial production declined by 0.1% in March, after rising 0.1% in February. For the quarter, it slipped at a 0.3% annual rate, after a gain of 4% in the fourth quarter of 2018. Natixis economist Joseph LaVorgna said the Federal Reserve’s industrial production index correlates very closely to GDP growth, and the correlation between its quarterly annualized changes and real GDP growth is around 70%. “It ... (full story)