Log In

Reset Password

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 (AP) - 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.

Industrial production covers manufacturing, utilities and mining. For just manufacturing, factory output slowed to a 0.2% gain, reflecting the hurricane impact, following a much stronger 1.6% increase in July. The August increase was led by a big gain in furniture production.

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%.

In this March 24, 2021 photo, a sign stands near an entrance to a General Motors assembly plant in Wentzville, Mo. U.S. factory production in July posted the strongest gain in 4 months, reflecting a surge in production at auto plants that are still confronting major supply chain problems. The Federal Reserve reported Tuesday, Aug. 17, that manufacturing output increased 1.4% in July following decline of 0.3% in July. (AP Photo/Jeff Roberson)