Salem Radio Network News Saturday, December 4, 2021

Business

U.S. manufacturing output declines in September

WASHINGTON (Reuters) – Production at U.S. factories unexpectedly fell in September as motor vehicle output slumped amid an ongoing global shortage of semiconductors.

Manufacturing output dropped 0.7% last month, the Federal Reserve said on Monday. Data for August was revised down to show production falling 0.4% instead of rising 0.2% as previously reported. Economists polled by Reuters had forecast manufacturing production edging up 0.1%.

(Reporting by Lucia Mutikani; Editing by Andrea Ricci)

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