US Industrial Output Drops In September Amid Ongoing Supply Chain Issues
U.S. industrial output for September fell by 1.3% in a sign that ongoing supply chain problems are continuing to choke manufacturers and take a toll on the economy.
In the latest report by the Federal Reserve, the central bank said that most of the weakness came from a drop in the number of consumer goods and materials. The consumer goods index fell 1.9% with the biggest declines in durables like automotive products and consumer energy goods.
Lingering effects of Hurricane Ida, which swept across the South and Northeast at the end of...