World Economy

US Factory Output Falls

US Factory Output FallsUS Factory Output Falls

US industrial production fell in March, data released by the Federal Reserve Friday showed. Manufacturing output dropped by the most in a year while mining output continued to shrink, signaling a slump in economic growth in the first quarter, Reuters reported. Industrial production data decreased 0.6% in March, the Federal Reserve said in the release, after a 0.6% drop in February. The numbers, which are seen as broad gauge of output across US factories, mines and power plants, have noted falls in six of the last seven months.