U.S. manufacturing output fell slightly in January, driven lower by Boeing’s decision to halt production of its troubled 737 MAX aircraft.

The Federal Reserve said Friday that factory output declined 0.1% last month after eking out a 0.1% gain in December. Excluding the production of airplanes and parts, factory production rose 0.3%

U.S. manufacturing has shown signs of recovering from a year-long downturn but is facing a fresh challenge from Boeing’s troubles, which also affect hundreds of suppliers. Manufacturing output is down 0.8% in the past year, hurt by the U.S.-China trade war and slower global growth.

Overall industrial production, which includes output from mines and utilities, dropped 0.3% in January, held back by a 4% drop in utility production output because of unseasonably warm weather.

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Futures tank as virus fears spur flight to safety

(Reuters) – U.S. stock index futures dropped sharply on Friday as compounding fears about the economic damage from the coronavirus epidemic drove investors to perceived safe havens such as bonds and gold. The outbreak, which has infected nearly 100,000 globally,…

The central bank cavalry is coming. Is it enough?

New York (CNN Business)After the most brutal week for investors since the Great Recession, stocks soared Monday on the hope central banks will ride to the rescue. The Federal Reserve delivered Tuesday with a 50 basis-point rate cut, the first…

Would US shoot itself in the foot in imposing sanctions over Hong Kong? RT’s Boom Bust investigates

On Friday, US President Donald Trump said he would end the special trade relationship with Hong Kong and impose sanctions on Chinese officials who backed the recent national security law. For the former British colony, the move could mean that…

U.S. judge rejects immediate bail for accused Carlos Ghosn smugglers

(Reuters) – A U.S. judge on Thursday refused to grant immediate bail to a Massachusetts father and son who are trying to avoid extradition to Japan, after being accused of helping smuggle former Nissan Motor Co (7201.T) chairman Carlos Ghosn…