Published On: Wed, Sep 15th, 2021

US Industrial Production Rebounds to Above Pre-Pandemic Level

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A new report from the Federal Reserve shows that U.S. factory production expanded in August, though at a far slower pace than in July, due to disruptions related to Hurricane Ida. Still, total industrial production in August rose above its pre-pandemic level. After growing by 0.8 percent in July, overall U.S. industrial production expanded by 0.4 percent in August, the Fed said in a Sept. 15 statement (pdf). “Late-month shutdowns related to Hurricane Ida held down the gain in industrial production by an estimated 0.3 percentage point,” the Fed stated in the report. Over the year, factory production has advanced by 5.9 percent, rising to 0.3 percent above its pre-pandemic February 2020 level. Utilities saw the biggest gains, expanding by 3.3 percent in August after contracting by 4.0 percent in July. Consumer goods, the category with the next highest rate of expansion, rose by 0.8 percent, followed by nonindustrial supplies, …

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