WASHINGTON (AP) — Harsh winter weather led to a steep
drop in U.S. factory output in January. Manufacturers made fewer cars
and trucks, appliances, furniture and carpeting, as the recent cold
spell ended five straight months of increased production
The
Federal Reserve says factory production plunged 0.8 percent in December,
reversing gains of 0.3 percent in both December and November.
Automakers lost days of production because of snowstorms, as their
production plummeted 5.1 percent.
Overall industrial production,
which includes manufacturing, mining and utilities, fell 0.3 percent in
January. Output for utilities rose 4.1 percent last month as the
freezing temperatures boosted heating demand.
Factories responded
to the weather by running at a lower 76 percent capacity, a 0.7
percentage point drop over the month and 2.7 percentage points below the
long-run average.
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.
WASHINGTON (AP) — Harsh winter weather led to a steep
drop in U.S. factory output in January. Manufacturers made fewer cars
and trucks, appliances, furniture and carpeting, as the recent cold
spell ended five straight months of increased production
The
Federal Reserve says factory production plunged 0.8 percent in December,
reversing gains of 0.3 percent in both December and November.
Automakers lost days of production because of snowstorms, as their
production plummeted 5.1 percent.
Overall industrial production,
which includes manufacturing, mining and utilities, fell 0.3 percent in
January. Output for utilities rose 4.1 percent last month as the
freezing temperatures boosted heating demand.
Factories responded
to the weather by running at a lower 76 percent capacity, a 0.7
percentage point drop over the month and 2.7 percentage points below the
long-run average.
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.