Investing.com - U.S. industrial production rebounded only weakly in February, stoking concerns that the slowdown at the end of last year could extend well into 2019.
Output inched up 0.1% last month after declining 0.4% in January, according to Federal Reserve data released Friday. Economists had forecast an increase of 0.4%.
In year-on-year terms, the rate of output growth fell to 3.5% from 3.8% in January. That’s the smallest increase since May 2018.
Meanwhile, manufacturing production declined 0.4%, disappointing estimates for a 0.3% gain.
Industrial output has been slowing around the world in recent months on fears of an escalation of the trade war between China and the U.S. and a disorderly departure from the European Union by the U.K.
China’s factory output grew at only 5.3% year-on-year in February, the slowest rate in 17 years. Germany’s output fell for the third month out of four in January, the latest month for which data are available.