Industrial Production Rises in February, Crude Oil Prices Hit 6-Year Low

Industrial production rose slightly by 0.1% in February, while manufacturing activity fell 0.2%, according to data released today by the Federal Reserve.

Crude oil prices hit a 6-year low this morning, dropping to $43.57 a barrel. This is the lowest price since March 2009.

China’s steel exports continue to grow, rising 63% in January to 9.3 million tons. The growth has steel producers in other countries looking for government protection against falling prices.

Tomorrow is St. Patrick’s Day - the day where more than 13 million pints of Guinness are consumed around the world. Sales of Irish beer brands (which includes Guinness) also reach $28.2 million in March thanks to the holiday.

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