Industrial output falls on mining, utilities

April 15, 2015 1:18 PM

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Industrial output falls on mining, utilities

WASHINGTON (Reuters) - Industrial production recorded its biggest drop in more than 2-1/2 years in March, weighed down by a decline in mining and utilities output, fresh evidence that economic growth slowed sharply in the first quarter.

Industrial production fell 0.6 percent after edging up 0.1 percent in February, the Federal Reserve said on Wednesday. March's decline was the largest since August 2012 and was worse than economists' expectations for only a 0.3 percent drop.

Also read: U.S. economy added 178,000 jobs in November; unemployment rate dropped to 4.6 percent

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