US industrial output slumped sharply again in September, dropping 1.0 per cent and marking its longest slide since the end of World War II, the Federal Reserve said today.
The 12th straight decline in monthly output for the nation's factories, mines and utilities was the longest since a string of decreases extending from November 1944 to October 1945, the Fed said.
The percentage of industrial capacity in use in September dropped to 75.5 per cent, the lowest it has been since June 1983, from 76.4 per cent in August.
While Wall Street analysts had anticipated a drop in September production, the output figure was weaker than had been expected. Analysts polled by Reuters had expected production to drop by 0.8 per cent and for capacity in use to fall to 75.4 per cent.
Reuters