Industrial production is surprisingly weak: the manufacturing sector down 0.4%

Manufacturing output fell 0.4% in February after dropping 0.5% in January. In February, the index was 1.0% higher than the previous year's level. The production of durable goods declined slightly. Non-metallic mineral products, machinery, furniture and related products posted losses of 1% or more, while computer and electronic products, aerospace and miscellaneous transportation equipment, and miscellaneous manufacturing. Non-durable goods production fell 0.7%. Most major non-durable goods industries recorded declines; the only increases were recorded in the paper and food, beverage and tobacco sectors. Output of other manufacturing industries (publishing and logging) increased by 0.5% but remained well below its level of the previous year.