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The Federal Reserve reports the output of the nation’s factories, mines and utilities fell 1.5% in March, with an uptick in the production of motor vehicles and utilities.

Industrial production has dropped 13.3% December 2007, the largest percentage decline since the end of World War II, when production of military equipment seized and production fell 35%.

In the past 12 months, industrial production has declined by 12.8%. Output fell at a 20% annualized rate during the first quarter, and it’s now at the same level as December 1998, the Fed’s latest data showed.

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