U.S. industrial output dropped sharply in September

[xizhimen]

U.S. industrial output dropped sharply in September​

Last Updated: Oct. 18, 2021 at 10:12 a.m. ETFirst Published: Oct. 18, 2021 at 9:21 a.m. ET

Output at nation’s factories, mines and utilities declined 1.3%. It’s the biggest drop since the pandemic-caused crash in early 2020​

The numbers: Industrial production fell a sharp 1.3% in September, the Federal Reserve reported Monday.

The gain was below Wall Street expectations of a 0.2% gain, according to a survey by the Wall Street Journal.

Adding to the sense of weakness in the data, industrial output in August was revised to a fall of 0.1% versus the prior estimate of a 0.4% gain.

Capacity utilization fell to 75.2% in September, the lowest rate since April. The capacity utilization rate reflects the limits to operating the nation’s factories, mines and utilities.
Big picture: This is the biggest decline since February, when Winter Storm Uri wreaked havoc in Texas. Manufacturing had been a bright spot even though the sector is struggling with supply bottlenecks.

Some of the weakness was due to Hurricane Ida. The hurricane cut about 0.6 percentage points from the drop in total industrial production, the Fed said.

Key details: Output at manufacturers fell 0.7% in September, led by a 7.2% drop in production of motor vehicles and parts. Excluding the auto sector, manufacturing was down 0.3%.
Utilities output fell 3.6% in September. Mining output, which includes oil and natural gas, fell 2.3% due to lingering effects of Hurricane IDa.

U.S. industrial output dropped sharply in September

Industrial production fell a sharp 1.3% in September, the Federal Reserve reported Monday.

www.marketwatch.com

 

[xizhimen]

When China's industrial output rose 3.1% in September, 2021, every western media channel cries about China's "significant decline" and the narrative is like a doomsday arriving in China.
The west never looks themselves in the mirror before badmouthing others. China's industrial output increased last year and this year's growth is based on the increase of last year, this is double positive growth in two consecutive years. US already experienced sharp drop last year and this year's new drop is based on a dropped low base from last year, it's double drops.