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Industrial Production Declines 1.5%
Industrial production fell 1.5% in March, marking the fifth straight monthly downturn, the Federal Reserve said Wednesday.
The increase was greater than economists’ forecasts of a 0.9% drop, Bloomberg reported.
The decline in production at factories, mines and utilities followed a revised 1.5% downturn in February that was slightly greater than originally reported.
The share of industrial capacity in use fell to 69.3%, the lowest reading since such records began being kept in 1967.
The factory sector is one of trucking’s largest and most important customers.
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