WASHINGTON: U.S. industrial production dropped in August as motor vehicles and parts production declined following a robust growth in July.
The U.S. industrial production, an indicator of factories, mines and utilities output, fell 0.4 percent in August, following a 0.9-percent increase in the previous month, the Federal Reserve said on Tuesday.
The manufacturing output, the largest component of the overall industrial production, declined 0.5 percent in August after rising 0.9 percent in July. The Fed attributed the decline to the large drop in output of motor vehicles and parts, while production elsewhere in the manufacturing sector was unchanged.
The index for mining went down 0.6 percent in August, compared to an increase of 1.8 percent in July. Utilities output rose 0.6 percent in the month after dropping 0.2 percent in July.
