U.S. industrial output drops sharply in September
An earlier version misstated the last month when industrial output had a bigger decline. The drop is the biggest since February 2021..The gain was below Wall Street expectations of a 0.2% gain, according to a survey by the Wall Street Journal.
Capacity utilization fell to 75.2% in September, the lowest rate since April. The capacity utilization rate reflects the limits to operating the nation’s factories, mines and utilities. Some of the weakness was due to Hurricane Ida. The hurricane cut about 0.6 percentage points from the drop in total industrial production, the Fed said.
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