U.S. manufacturing output fell for a second straight month in February and factory activity in New York state hit nearly a two-year low this month, offering further evidence of a sharp slowdown in economic growth early in the first quarter.
Fed officials are scheduled to meet Tuesday and Wednesday to assess the economy and deliberate on the future course of monetary policy. The Fed said manufacturing production dropped 0.4 percent last month, held down by declines in the output of motor vehicles, machinery and furniture. Data for January was revised up to show output at factories falling 0.5 percent instead of slumping 0.9 percent as previously reported.
Read the full story, "U.S. manufacturing sector slowing as economy loses steam," at Reuters.com.
See also: "3 steps for preparing your warehouse for an economic cooldown" on PlantServices.com.