Ida holds back US industrial production in August

Summary: US industrial output expands by 0.4% in August, more than expected; up 5.9% over past 12 months; Hurricane Ida subtracts estimated 0.3 percentage points; capacity utilisation rate rises to 76.4%, exceeds February 2020 figure, still below average. The Federal Reserve’s industrial production (IP) index measures real output from manufacturing, mining, electricity and gas company facilities located in the United States. These sectors are thought to be sensitive to consumer...

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