Industrial production falls 1.3% as effects from Ida linger
Source: AP
By MATT OTT
SILVER SPRING, Md. (AP) — U.S. industrial production fell 1.3% in September, much more than expected as the lingering effects of Hurricane Ida continue to stymie activity.
The Federal Reserve reported Monday that nearly half, or 0.6%, of the overall decline in total industrial production was attributable to the hurricane.
It was the worst showing since February’s 3.1% decline, when severe winter storms hammered much of the country, disrupting a wide swath of manufacturing activities from autos to chemical plants.
Industrial production covers manufacturing, utilities and mining. The government said manufacturing output fell 0.7%, dragged down by a 7.2% decline in motor vehicles and parts as shortages of semiconductors continued to thwart the industry. Outside of the auto industry, factory output declined 0.3% the government said.
FILE - A pair of unsold 2021 sports-utility vehicles—Outback at left, Forester on right— sit in an otherwise empty storage lot at a Subaru dealership in Littleton, Colo., in this Sunday, Sept. 12, 2021, file photo. U.S. industrial production fell 1.3% in September, the Federal Reserve reported Monday, Oct. 18, 2021. Manufacturing output fell 0.7%, dragged down by a 7.2% decline in motor vehicles and parts as shortages of semiconductors continued to thwart the industry. (AP Photo/David Zalubowski, File)
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