> > BLS DAILY REPORT, WEDNESDAY, APRIL 18, 2001:
>> The Federal Reserve reports a rebound in manufacturing, especially in autos, boosted
total production of the nation's industrial sector to a 0.4 percent seasonally adjusted
rise in March. But the burst of factory output could not make up for a very bleak
January
and February. As a result, the industrial sector -- including manufacturing, mining,
and
utilities -- registered a 4.7 percent annualized rate of decline for the first
quarter. It
was the largest quarterly drop since the first quarter of 1991, when the economy was in
the last phase of the 1990-91 recession (Daily Labor Report, page D-22).<<
nonetheless, the Fed cut rates in a seemingly panicked way. Is it possible that they're
freaking out about international events? or rising saving by consumers? or what?
-- Jim Devine
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