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Industrial output slumps in January for fourth decline in past five months
Industrial production fell 0.3% in January, marking the fourth decline in the past five months, the Federal Reserve reported Friday. The drop in January was in line with Wall Street expectations. What happened: The decline mainly reflected warmer weather, which cut utility output, and a significant slowdown in civilian aircraft production. Boeing Co suspended 737 MAX production in January as it struggled to win regulatory approval of safety changes made to the aircraft following two deadly crashes. Factory activity edged down 0.1% in January. Excluding civilian aircraft, manufacturing rose 0.3%. Production of autos ... (full story)
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