Industrial Production Contracts in the First Quarter
April 16, 2019
Overall industrial production fell in the first three months of the year. This is the first time that production had a negative quarter since 2017. The drop adds fuel to concerns over global economic slowdown and has some economists wondering if economic growth may be slower than their current estimates.
Production fell 0.1 percent in March, after increasing 0.1 percent the month before. For the quarter as a whole, production was down 0.3 percent, a precipitous drop from Q4 2018’s 4 percent increase.
A spokesman for the National Association of Manufacturers noted that outlook remains positive as the U.S. economy continues to be strong, but that slowing economies in Asia and Europe may pose a risk to output.