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WASHINGTON, March 17 (UPI) -- Industrial production declined in the United States in February, offering analysts another argument that an economic recession has settled into place.
The index that covers mine and utility company outputs and factory production declined 0.5 percent for the month, five times the decline of 0.1 percent analysts had predicted.
The industrial production index was 1.0 percent above February 2007, but lower compared with January, which saw a gain of 1.0 percent, the U.S. Federal Reserve said.
"Much of the decline," the Fed said, "resulted from a weather-related drop of 3.7 percent in the output of utilities."
Manufacturing declined 0.2 percent on the month, while the output of mines jumped up 0.4 percent.