Factory production rose less than forecast in January and home construction fell, showing the U.S. economy is off to a slow start in 2015. Output at factories climbed 0.2 percent and figures for the previous three months were revised lower, data from the Federal Reserve showed Wednesday in Washington. Total industrial production, which also includes mining and utilities, climbed less than projected as oil-well drilling slumped. Housing starts dropped 2 percent, according to the Commerce Department. “It’s not weak, but it’s not great either,” said Thomas Costerg, an economist at Standard Chartered Bank in New York, who correctly estimated the gain in factory output. “There are some downside risks, clearly.” The data bolster Fed concern that struggling economies from Europe to Asia, a stronger dollar and the sluggish recovery in housing pose obstacles that warrant keeping interest rates low for longer. Additionally, while consumers benefit from an […]