trending Market Intelligence /marketintelligence/en/news-insights/trending/s6hIvQbYCKXBDvpvqsNRgQ2 content esgSubNav
In This List

US industrial, manufacturing output fall more than expected amid GM strike

Blog

Global Capital Markets & SPAC Activity – H1 2021

Blog

Banking Essentials Newsletter: July Edition - Part 3

Blog

Banking Essentials Newsletter: July Edition - Part 2

Blog

Anticipate the Unknown Go Beyond Fundamentals to Uncover Early Signs of Private Company Credit Deterioration


US industrial, manufacturing output fall more than expected amid GM strike

U.S. industrial production fell more than expected in September, as a labor strike at a major car manufacturer reduced manufacturing output, according to a new report from the Federal Reserve.

Seasonally adjusted industrial production fell 0.4% month over month in September, following a revised increase of 0.8% in August. The consensus estimate from economists polled by Econoday was for a decline of 0.2% in industrial production.

Manufacturing output decreased 0.5% last month, when members of the United Auto Workers held a strike against General Motors Co. The labor action contributed to a drop of 0.7% for durable goods output.

The consensus estimate from economists polled by Econoday was for a 0.3% fall in manufacturing production in September.

The monthly declines in both industrial and manufacturing output were the biggest since April, data from the Fed showed.

Mining output fell 1.3% month over month in September, driven by declines in crude oil extraction and well drilling. Utilities output rose 1.4% amid higher demand for electricity due to warm weather.

Year over year, industrial production was down 0.1% in September.

Industrial capacity utilization fell 0.4 percentage point in September to 77.5%, a rate that is 2.3 percentage points lower than its long-run average.