Cold Weather Causes Factory Output to Drop
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% in January, reversing gains of 0.3% in both December and November. Automakers lost days of production because of snowstorms, as their production plummeted 5.1%.
Productivity grows at 3.2% rate
WASHINGTON — U.S. productivity growth slowed in the fourth quarter while labor costs kept falling. For the year, productivity turned in another weak gain.
Productivity grew at an annual rate of 3.2% in the October-December period, down slightly from a 3.6% growth rate in the third quarter, the Labor Department reported Thursday… Read Full Article