74435
US Industrial Output Picks Up
US Industrial Output Picks Up

US Industrial Output Picks Up

US Industrial Output Picks Up

US industrial output rose in September as the effects of Hurricanes Harvey and Irma began to fade and construction and utilities production bounced back, the Federal Reserve said on Tuesday, Reuters reported. Overall industrial production increased 0.3% in September after an upwardly revised 0.7% decline in August. However, output in July was revised to a decline of 0.1% from the previously reported 0.4% gain. Industrial production data for August had been heavily impacted by the hurricanes which temporarily shut down oil, gas and chemical plants along the US Gulf Coast. The Fed said that the impact of Harvey and, to a lesser extent, Irma, held back production growth in September by 0.25 percentage point. Economists polled by Reuters had forecast industrial output rising 0.3% in September. The Fed’s measure of the industrial sector is made up of manufacturing, mining, and electric and gas utilities. The manufacturing sector, which comprises about 12% of the US economy, edged up 0.1% after an upwardly revised 0.2% decline in August.

Short URL : https://goo.gl/p4cXuR
  1. https://goo.gl/UdtC2m
  • https://goo.gl/EBhkaW
  • https://goo.gl/5tgh9b
  • https://goo.gl/1ca3Jn
  • https://goo.gl/zi6Bfp

You can also read ...

Asian Stocks Skid as Oil Woes Sap Sentiment
Asian stocks stumbled on Wednesday after weaker crude oil...
ASEAN Must Raise Green Investment by 400% p.a.
The Association of Southeast Asian Nations region needs to...
Central Europe Grows at Fastest Rate in 9 Years
Central Europe’s fastest expansion for nine years and strong...
Airbus Signs Biggest Ever Deal
Airbus SE announced the biggest commercial-plane transaction...
India Banks Bad Loans Rise Slowest in Two Years
Bad loans at India’s 38 listed banks rose at the slowest pace...
Japan Capital Expenditure Healthy, Economy Doing Well
Japan's economy shrugged off a consumer spending dip in the...
 Greece in New Market Test
Greece on Wednesday offered to exchange some €30 billion ($35...
The Association of Southeast Asian Nations region needs
Peru’s economy grew 3.18% in September from the same month a...

Add new comment

Read our comment policy before posting your viewpoints

Image CAPTCHA
Enter the characters shown in the image.

Trending

Googleplus