US Industrial Production Rebounds After Hurricane-Related Drop
- August’s 0.8% gain exceeded all estimates after 0.9% decline
- Factory output ex-autos rises after falling in prior months
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US industrial production rebounded in August from a Hurricane Beryl-related slide a month earlier, reflecting a pickup in manufacturing and mining output.
The 0.8% increase in production at factories, mines and utilities followed a downwardly revised 0.9% decline a month earlier, Federal Reserve data showed Tuesday. The August advance exceeded all estimates in a Bloomberg survey of economists.