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US industrial production fell a sharp 0.6% in Sept, weakest since lockdown

US industrial production fell 0.6 per cent in September, the weakest showing since industrial output tumbled in the spring when the economy was slowed by widespread lockdowns

Photo: Reuters
Photo: Reuters

US industrial production fell 0.6 per cent in September, the weakest showing since industrial output tumbled in the spring when the economy was slowed by widespread lockdowns resulting from the coronavirus.

The Federal Reserve reported Friday that industrial production suffered its first decline since a 12.7 per cent drop in April during the spring lockdowns.

The key category that reflects manufacturing output fell 0.3%. At the same time, mining output, which includes oil and gas exploration, fell 5.6%. Production at the nation's utilities was up 1.7 per cent.

Last month's reading on industrial production was far below the gains that began in May after sharp declines in March and April.