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US industrial output increases 0.1% in Sept

by ChemOrbis Editorial Team -
  • 18/10/2016 (09:07)
According to media reports, data released by the US Federal Reserve showed that industrial output in the US posted a slight 0.1% increase on a seasonally adjusted basis in September following a revised decrease in August. For August, figures were revised to a drop of 0.5% from an initially reported decrease of 0.4%.

Economists’ initial estimates for September called for an increase of 0.2% in a survey conducted by The Wall Street Journal. On a yearly basis, meanwhile, the country’s industrial output increased 1.8% in the third quarter, posting the first quarterly rise from the third quarter of last year.

The less than expected increase was attributed to the struggles in the factory sector in 2016 due to an uncertainty in the global outlook and weak business spending, plus an appreciation of the US dollar which made exports expensive. However, analysts feel the improvement in industrial output could help offset a slowdown in consumer spending and support broader economic growth for the second half of the year.
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