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August industrial production slows to 0.4% gain after Ida strike

WASHINGTONIn — U.S. industrial production fell 0.4% in August as Hurricane Ida shutdowns halted manufacturing activities.

Petrochemical plants and oil refineries closed along the Gulf Coast were down 0.3 percentage points from production, only half of the 0.8 percent increase recorded in July, the Fed reported on Wednesday.

Industrial production encompasses manufacturing, utilities, and mining. For manufacturing only, factory output slowed to a 0.2% increase reflecting the hurricane impact after a much stronger 1.6% increase in July. The increase in August was led by the large increase in furniture production.

Production has been disrupted in recent months as supply chains have been battered, especially in areas such as the manufacture of computer chips for automobiles.

Production in the country’s utilities rose 3.3% in August, while production in mining fell 0.6%.

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