US Industrial Production Rises, But Producer Prices Fall

US industrial production and manufacturing output rose in January, the Federal Reserve reported today. Both increased 0.2% last month.

US producer prices, however, saw their largest decline in more than 5 years during January. The Labor Department’s producer price index dropped 0.8%.

Now that the Chinese New Year holiday is underway, many factories in the country are shut down for the next week or so. Retailers and importers overseas that rely on Chinese production are bracing for the slowdown in China.

Two Japanese shipping and delivery companies, Japan Post Holdings Co. and Kintetsu World Express Inc., made acquisitions of foreign firms in recent days to expand their presence in the Asian region and become more competitive with European and US counterparts.

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