Winter storms hammer US manufacturing production in February


Output at US factories plunged in February, depressed by winter storms in Texas, which put some petroleum refineries, petrochemical facilities and plastic resin plants out of commission for the rest of that month.   Manufacturing production dropped 3.1% last month, also weighed down by a global semiconductor shortage, the Federal Reserve said on Tuesday.

That followed a 1.2% jump in January and ended nine straight monthly increases in factory output.   Manufacturing production remains below its pre-pandemic level.   Economists.....

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