Manufacturing output takes surprise dip in February

U.S. manufacturing output fell in February for the third straight month as automobile production tumbled, pointing to slower economic growth in the first quarter. Factory production slipped 0.2 percent last month after a revised 0.3 percent decline in January, the Federal Reserve said on Monday. The rise in utilities, however, was insufficient to offset the drag from manufacturing and mining, leaving overall industrial production gaining only 0.1 percent in January.