The Economy Is Probably Fine, but ...

Unexpectedly soft industrial production figures add to signs economy has hit at least a temporary bout of weakness.

The economy’s soft patch keeps looking softer.

The Federal Reserve reported January industrial-production figures, and they were strikingly weak. Overall output at the nation’s factories, mines and utilities fell 0.6%. That was much worse than the 0.1% gain economists were looking for. Manufacturing production was particularly cool, falling 0.9%.

Coming...