- U.S. industrial production fell 1.3% in September, much more than expected.
- The lingering effects of Hurricane Ida continued to stymie activity.
- The government said manufacturing output fell 0.7%, dragged down by a 7.2% decline in motor vehicles and parts as shortages of semiconductors continued to thwart the industry.
- Outside of the auto industry, factory output declined 0.3% the government said.
U.S. industrial production fell 1.3% in September, much more than expected as the lingering effects of Hurricane Ida continue to stymie activity.
The Federal Reserve reported Monday that nearly half, or 0.6%, of the overall decline in total industrial production was attributable to the hurricane.
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