In other words: meh.
There was good news in the "final products" major market group, which saw the 0.3% increase the Street was looking for (mostly driven by the business equipment subgroup, which saw a 1.1% increase in production). This was easily counterbalanced the nonindustrial supplies group production dropping 0.4% and the materials group production dropping 0.1%.
Have a look at the actual results at http://www.federalreserve.gov/releases/g17/current/default.htm.
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