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U.S. Industrial Output Slips
America's industrial production the combined output of factories, mines and utilities slipped 0.1% in August from a downwardly adjusted 0.2% gain in July, according to the Federal Reserve.
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America's industrial production the combined output of factories, mines and utilities slipped 0.1% in August from a downwardly adjusted 0.2% gain in July, according to the Federal Reserve.
The Fed says manufacturing sector declined 0.4% last month, dragged down by a sharp downward swing in car production. But economists say the dip in auto output can be attributed to seasonal factors.
Vehicle output in July surged 9%, the largest monthly hike in five years, then dropped 8%, the biggest drop in five years, in August. Analysts cite the timing of summer plant shutdowns for retooling.
Economists predict that continuing strong car sales will soon reverse last month's dip. Car sales in August climbed to an annualized rate of 17.5 million units in the U.S., the strongest pace in more than eight years.
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