Source: Federal Reserve
Industrial production declined for the second straight month in September, dragged by the lingering effects of Hurricane Ida.
- Industrial production fell 1.3%, following the 1% decline in August. The annual growth stood at 4.6%.
- Manufacturing output fell 0.7% during the month, after the 0.4% drop in August. Annual growth was at 4.8%.
- Production of motor vehicles and parts slipped 7.2% due to the continued shortage of semiconductors.
- The overall decline was attributed to the impact of Hurricane Ida, which also caused a 0.3 percentage point drop in manufacturing.
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