• Thu. Sep 23rd, 2021

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August industrial output slows to 0.4% gain after Ida strike

U.S. industrial production slowed in August to a 0.4% gain in August as the shutdowns caused by Hurricane Ida took a toll on manufacturing activity

WASHINGTONIn — U.S. industrial production slowed to a 0.4% gain in August as the shutdowns caused by Hurricane Ida curbed manufacturing activity.

Closures of petrochemical plants and petroleum refining along the Gulf Coast shaved 0.3 percentage points from output, the Federal Reserve reported Wednesday, which was just half the 0.8% increase recorded in July.

Manufacturing has been hobbled in recent months by snarled supply chains particularly in such areas as production of computer chips for cars.

Output at the nation’s utilities rose 3.3% in August while output in mining was down 0.6%.