Factory Output in U.S. Declines on Weaker Auto Production
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A slump in motor vehicle production pushed down U.S. factory output unexpectedly in July, Federal Reserve data showed Thursday.
Automobile production fell 3.6 percent in July, the fourth decline in the last five months. That reflected a slowdown in sales that were a bright spot for the economy in recent years. While factory production excluding automobiles increased, the data showed some other areas of softness. Output of business equipment and construction materials dropped for the second time in three months.