US manufacturing output hit by Boeing troubles, slips 0.1%
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<p style="text-align:center"><img src="https://imedia-peoplesdaily.pdnews.cn/20200215/1ced401d79d14cecb7324334a97bea26.jpeg" title="" alt="800 (14).jpeg"/></p><p style="text-align: left;"><span style="color: rgb(165, 165, 165);">In this Dec. 16, 2019, file photo a Boeing worker walks past a 737 model fuselage and a giant mural of a jet on the side of the manufacturing building behind in Renton, Wash. (Photo: AP)</span></p><p style="text-align: left;">US manufacturing output fell slightly in January, driven lower by Boeing’s decision to halt production of its troubled 737 MAX aircraft.</p><p style="text-align: left;">The Federal Reserve said Friday that factory output declined 0.1% last month after eking out a 0.1% gain in December. Excluding the production of airplanes and parts, factory production rose 0.3%.</p><p style="text-align: left;">US manufacturing has shown signs of recovering from a year-long downturn but is facing a fresh challenge from Boeing’s troubles, which also affect hundreds of suppliers. Manufacturing output is down 0.8% in the past year, hurt by slower global growth.</p><p style="text-align: left;">Overall industrial production, which includes output from mines and utilities, dropped 0.3% in January, held back by a 4% drop in utility production because of unseasonably warm weather.</p><p style="text-align: left;">Other reports suggest manufacturing is picking up, particularly outside aircraft production. The Institute for Supply Management, a trade group of purchasing managers, said earlier this month that factory activity expanded in January for the first time in six months.</p><p style="text-align: left;">The ISM’s survey found that new orders and production rose in January, and while factories still cut jobs, they did so at a slower pace.</p><p style="text-align: left;">Economists at Goldman Sachs forecast that the Boeing shutdown and coronavirus will lower the US economy’s growth in the first three months of this year by roughly three-quarters of a percentage point to an annual rate of 1.7%.</p><p><br/></p>