| Saturday, June 17
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Industrial production unexpectedly dips |
Industrial production unexpectedly fell in May, reflecting weakness in manufacturing, as the economy flashed more signals of a spring slowdown.
The Federal Reserve reported Thursday that output at the nation's factories, mines and utilities dropped by 0.1 percent last month following an increase of 0.8 percent in April. Analysts had been expecting a small 0.2 percent rise.
The weakness last month reflected a 1.3 percent drop in production of autos and auto parts as the U.S. auto industry continued to struggle with soaring gasoline prices that have sapped demand for sport utility vehicles. |
posted by ^%&^
@ 9:29 AM
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