Manufacturing in New York region fails to meet expectations
Industrial production in the U.S. slowed in August as automakers scaled back following an increase in output in July.
Industrial production increased 0.2 percent last month after rising 0.6 percent in July, figures from the Federal Reserve showed today. Factory output climbed 0.5 percent excluding autos, the most since May..
Other reports today showed manufacturing in the New York region expanded at a slower pace than forecast.
The Fed Bank of New York’s general economic index fell to 4.1 this month, the lowest reading since July 2009, from 7.1 in August. Readings greater than zero signal expansion. Measures of orders, sales and employment all improved, showing the drop in the index was mainly a reflection of a loss of confidence.