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Trade Desk Thoughts: Industrial production for February has risen slightly from the lows achieved in the previous month. Economists had been expecting a -9.1 percent decline when in fact the report was released slightly worse off, at -9.4 percent for the month of February.
The index is still off by 38.7 percent from one year ago. The industries which contributed to the decline were transport equipment, general machinery, and electrical machinery.
Meanwhile, production forecasts are expected to increase 2.9 percent in March and to 3.1 percent in April.
