US manufacturing sector slowing as economy loses momentum

WASHINGTON: U.S. manufacturing output fell for a second straight month in February and factory activity in New York state was weaker than expected this month, offering further evidence of a sharp slowdown in economic growth early in the first quarter.

Motor vehicles and parts output slipped 0.1 percent last month after tumbling 7.6 percent in January. Excluding motor vehicles and parts, manufacturing output fell 0.4 percent last month. Manufacturing is losing steam as the boost to capital spending from last year's US$1.5 trillion tax cut package fades. Activity is also being crimped by a trade war between the United States and China as well as by last year's surge in the dollar and softening global economic growth, which are hurting exports.

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