WASHINGTON — Industrial output fell sharply in February as severe winter storms battered much of the country, disrupting a wide range of manufacturing activities from autos to chemical plants.
The expectation is that the drop will be temporary although there are concerns about growing global supply chain problems.
The Federal Reserve reported Tuesday that industrial production fell 2.2% in February, reflecting a big decline in output at factories and oil and gas refineries.
Industrial production fell 2.2% last month interrupting a string of four positive monthly gains as U.S. factories recovered from the pandemic-induced recession of last spring. Industrial production had been up 1.1% in January and 1% in
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