US Industrial Output Falls For First Time in Nine Months

19 September 2002

Latest industrial output figures from the Federal Reserve suggest that sustained US economic recovery may still be some way off.

Production slipped 0.3% last month, the first drop since December 2001, defying economists’ expectations of a 0.1% to 0.2% increase. The fall follows a revised 0.4% rise in July.

Much of the decline can be attributed to a 2.5% downturn in output in the gas and electricity sector. In addition, consumer goods production sank 0.5%, while cars and auto parts fell by the same margin.

Data sourced from: USA Today; additional content by WARC staff