US industrial production fell a sharp 0.6% in September

The Federal Reserve reported Friday that industrial production suffered its first decline since a 12.7 percent drop in April during the spring lockdowns.

Washington: US industrial production fell 0.6 percent in September, the weakest showing since industrial output tumbled in the spring when the economy was slowed by widespread lockdowns resulting from the coronavirus.

The Federal Reserve reported Friday that industrial production suffered its first decline since a 12.7 percent drop in April during the spring lockdowns.

The key category that reflects manufacturing output fell 0.3%. At the same time, mining output, which includes oil and gas exploration, fell 5.6%. Production at the nation’s utilities was up 1.7 percent.

Last month’s reading on industrial production was far below the gains that began in May after sharp declines in March and April.

READ:  Covid effect: Cancer patients who delay treatment are at a great risk
Subscribe us on The Siasat Daily - Google News
Back to top button