10/18, 3:16 PM (Source: TeleTrader)
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US industrial production down 1.3% in September

Industrial production in the United States declined 1.3% month-over-month in September, falling way below market expectations, according to a report published by the Federal Reserve on Monday. However, annually the figure was up by 4.6%.

Manufacturing output in September lost 0.7% when compared to the previous month, but gained 5.3% annually. The production of motor vehicles and parts dropped 7.2%, with semiconductor shortages continue to slow down operations.

For the same period, the operating rate for mining and the operating rate for utilities both saw losses, declining 1.6% and 2.8% respectively. Capacity utilization for the industrial sector decreased by 0.6 percentage points in September.

Breaking the News / OL