US manufacturing output falls in January on weak motor vehicle production

News Snapshot:

WASHINGTON (Reuters) - U.S. manufacturing production unexpectedly fell in January, weighed down by a sharp decline in motor vehicle output. Factory output dipped 0.1% last month after a downwardly revised 0.5% rebound in December, the Federal Reserve said on Friday. Economists polled by Reuters had forecast production edging up 0.1% after a previously reported 0.6% surge. Production at factories increased 1.0% on a year-on-year basis in January. Manufacturing, which accounts for 10.3% of the economy, has been recovering as the U.S. central bank started cutting interest rates in September. But the nascent recovery is threatened by President Donald Trump's protectionist...