Advertisement

US production slowed amid Hurricane Ida, shortage of raw materials

Production at US factories slowed more than expected in August amid disruptions from Hurricane Ida and lingering shortages of raw materials and labour as the COVID-19 pandemic drags on.
 
An improvement is likely with other data today showing a sharp acceleration in a measure of factory activity in New York this month against the backdrop of strong order growth and shipments of goods. 
 
Demand is being fueled by businesses desperate to replenish stocks after inventories were drawn down sharply in the first half of the year.
 
Manufacturing output increased 0.2 per cent last month.
 
Data for July was revised to show production surging 1.6% instead of 1.4% as previously reported.


comments powered by Disqus
Most Popular
Long wait ahead for Jamaicans seeking US visa
'Dog Paw' killed in shootout
US Embassy prohibits staff from travelling to...