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