Sep 15, 2014 9:27 AM
US factory output drops 0.4 percent in August
The Associated Press
WASHINGTON (AP) U.S. manufacturing output declined in August for the first time in seven months, reflecting a sharp fall in production at auto plants.
The Federal Reserve says output at manufacturing plants fell 0.4 percent in August after a 0.7 percent rise in July. Total industrial production was down 0.1 percent in August, also the first setback for the overall figure since January. Output was up in mining and utility production but these gains were not enough to offset the decline in manufacturing.
Output of motor vehicles and parts dropped 7.6 percent after a 9.3 percent increase in July. The reversal was not viewed as worrisome. The July figure was boosted because many plants did not shut down as they normally do to retool for new models. That made August look weaker.