Site last updated: Saturday, April 27, 2024

Log In

Reset Password
MENU
Butler County's great daily newspaper

After Ida, August industrial output gains slow in U.S.

WASHINGTON — U.S. industrial production slowed to a 0.4% gain in August as shutdowns of petroleum refineries and petrochemical plants caused by Hurricane Ida curbed manufacturing activity.

Plant closures along the Gulf Coast as well as lost oil production during last month’s hurricane shaved 0.3 percentage points from output, the Federal Reserve reported Wednesday. Industrial output had risen a revised 0.8% in July.

Industrial production covers manufacturing, utilities and mining. For just manufacturing, factory output slowed to a tiny 0.2% gain, reflecting the hurricane impact and continuing supply chain problems. Factory output had risen a much stronger 1.6% in July.

Economists said problems, including labor shortages due to the resurgence of COVID-19 cases at home and abroad continue to depress manufacturing activity.

More in Business

Subscribe to our Daily Newsletter

* indicates required
TODAY'S PHOTOS