Industrial production in the nation was down 1.4% in February while capacity utilization fell to 70.9, according to data released by the Federal Reserve Board yesterday.

The drop in production level followed a 1.9% decrease the previous month, originally reported as a 1.8% slip, while January capacity use was revised down to 71.9 from 72.0.

Thomson Reuters had forecast a 1.2% decrease for production, and a 71.1% level for capacity utilization.

The overall production index has now declined for four straight months and for 10 of the past 12 months.

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