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Winter storms hammer US manufacturing production in February

Manufacturing production dropped 3.1% last month, also weighed down by a global semiconductor shortage, the Federal Reserve said on Tuesday

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US Manufacturing | US economy | US Federal Reserve

Reuters 

Output at US factories plunged in February, depressed by winter storms in Texas, which put some petroleum refineries, petrochemical facilities and plastic resin plants out of commission for the rest of that month. Manufacturing production dropped 3.1% last month, also weighed down by a global semiconductor shortage, the Federal Reserve said on Tuesday. That followed a 1.2% jump in January and ended nine straight monthly increases in factory output. Manufacturing production remains below its pre-pandemic level. Economists polled by Reuters had forecast manufacturing ...

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First Published: Tue, March 16 2021. 20:02 IST
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