U.S. Industrial Production Drops More Than Forecast
Industrial production in the U.S. fell for the 14th time in the last 15 months as factories trimmed unwanted stockpiles.
Output at factories, mines and utilities dropped 1.5 percent last month, more than anticipated and matching the prior month’s decrease, according to a report from the Federal Reserve today in Washington. The amount of industrial capacity in use fell to 69.3 percent, the lowest level since records began in 1967.
Source: Bloomberg
