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Industrial output dropped in May; has not risen in six months

Industrial output dropped in May; has not risen in six months

Industrial output fell in May, the sixth straight month without an increase as a strong dollar and lower oil prices continued to take a toll on a key sector in the nation's economy. Analysts had been expecting a small increase as oil prices have stabilized. But production declined 0.2%, the Federal Reserve said Monday. The struggles at the nation's factories, mines and utilities will be one of the factors that Fed policymakers are likely to consider when they meet Tuesday and Wednesday. The officials must decide if the economy is strong enough for the first hike in the central bank's benchmark short-term interest rate since 2006. For the 12-month period that ended...

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