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Financial News: U.S. Industrial Production Unexpectedly Edges Down 0.2% In

U.S. Industrial Production Unexpectedly Edges Down 0.2% In August

09/15/2022 - 09:18:00 (RTTNews)

(RTTNews) - The Federal Reserve released a report on Thursday unexpectedly showing a modest decrease in U.S. industrial production in the month of August.

The report said industrial production edged down by 0.2 percent in August after climbing by a downwardly revised 0.5 percent in July.

Economists had expected industrial production to inch up by 0.2 percent compared to the 0.6 percent increase originally reported for the previous month.

The unexpected dip in industrial production came as utilities output tumbled by 2.3 percent, while mining output was unchanged and manufacturing output crept up by 0.1 percent.

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