WASHINGTON (Reuters) – U.S. manufacturing output was unchanged in March after two straight monthly declines, resulting in the first quarterly drop in production since President Donald Trump was elected.
FILE PHOTO: A line worker installs the front seats on the flex line at Nissan Motor Co’s automobile manufacturing plant in Smyrna, Tennessee, U.S., August 23, 2018. REUTERS/William DeShazer/File Photo
The weakness in manufacturing reported by the Federal Reserve on Tuesday is in tandem with a moderation in the broader economy, and is despite the White House’s “America First” policies, including trade tariffs aimed at protecting domestic factories from what Trump says in unfair foreign competition.
Soft manufacturing and slowing economic growth reflect the ebbing stimulus from a $1.5 trillion tax cut package and supply chain disruptions