Federal Reserve Chair Janet Yellen lowered projections for future interest-rate increases based on weaker forecasts for growth and inflation.
Manufacturing slid 0.2% in February — its third monthly decline since November. Mining, which includes oil drilling, fell 2.5%, reflecting less demand and drilling activity for oil and gas.
New-residential construction decreased 17.0% in February to a rate of 897,000 units, below expectations for 1.0 million units.
The Conference Board's index of leading indicators, a gauge of the U.S. economic outlook for the next three to six months, rose 0.2% in February, below analysts' expectations.
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