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18 Oct, 2021 14:40 18 Oct, 2021 14:40

US industrial production falls sharply in September led by drop in auto output

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US industrial production dropped unexpectedly last month, registering across-the-board declines by sectors.

According to the Department of Commerce, in seasonally adjusted terms, total output shrank at a month-on-month pace of 1.3%.

That compared to a 0.3% rise as forecast by economists.

Manufacturing production dropped by 0.7% in comparison to the prior month, while in Mining output declined by 2.3% and that of Utilities fell 3.6%.

Not surprisingly, the rate of capacity utilisation also undershot by a wide margin, coming in at 75.2% (consensus: 76.5%).

Auto manufacturing paced declines, dropping by 7.2% versus August while that of durable goods as a whole shrank by 0.5%.

Durable goods output was otherwise 0.5% higher with gains of over 1.0% in primary metals, electrical equipment, appliances, and components; aerospace and miscellaneous transportation equipment; furniture and related products; and miscellaneous manufacturing.

Production of nondurable goods meanwhile fell by 1.0%.


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Pilling and Co Stockbrokers Ltd. is not responsible for the content or accuracy of third party news articles and we may not share the views of the author or publisher.

We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.