Industrial Production May Be Bottoming,
Yet, There Are New Signals of Intensifying Economic Risk

Production Was Flat in February, Minimally Positive Year-to-Year, with
Gains in Manufacturing and Mining Offset by Weather-Distorted Utilities

No Economic Expansion: Activity Held Below Pre-2007 Recession Peaks, with
Production Down by 0.94% (-0.94%), Manufacturing Down by 4.97% (-4.97%)

Major Downside Revisions to Production Activity of Recent Years
Likely Loom with the March 31st Annual Benchmarking Going Back to 1972

General Outlook Remains in Place for Continuing
Near-Term Economic Stagnation and Renewed Downturn