AMERICANALMANAC (Sadie Smith) - U.S. factory output drops in August, snapping seven-month streak as auto and aerospace production slide
American manufacturing contracted for the first time this year in August, with motor vehicles and aerospace dragging factory output down 0.3 percent and pushing capacity utilization to its lowest point in five months. The Federal Reserve's latest industrial production report, released Friday, showed U.S. factories reversing course after seven straight months of gains. Manufacturing output […] The post U.S. factory output drops in August, snapping seven-month streak as auto and aerospace production slide appeared first on American Almanac .
American manufacturing contracted for the first time this year in August, with motor vehicles and aerospace dragging factory output down 0.3 percent and pushing capacity utilization to its lowest point in five months. The Federal Reserve's latest industrial production report, released Friday , showed U.S. factories reversing course after seven straight months of gains. Manufacturing output had ticked up 0.2 percent in July. August's 0.3 percent decline wiped out that momentum and raised fresh questions about the durability of any domestic production recovery. Two sectors did the most damage. Motor vehicles and parts production fell 1.2 percent, the second consecutive monthly drop, after a 0.8 percent decline in July. Aerospace and…Open