U.S. manufacturing production unexpectedly drops in September
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FILE PHOTO: A production line employee works at the AMES Companies shovel manufacturing factory in Camp Hill, Pennsylvania, U.S. on June 29, 2017. REUTERS/Tim Aeppel
WASHINGTON (Reuters) - U.S. factory production unexpectedly fell in September, suggesting that manufacturing's recovery from the COVID-19 pandemic was slowing heading into the fourth quarter.
Manufacturing production dropped 0.3% last month, the Federal Reserve said on Friday. Data for August was revised up to show to output at factories increasing 1.2% instead of 1.0% as previously reported. Factory production remains 6.4% below its pre-pandemic level. Economists polled by Reuters had forecast manufacturing output would rise 0.7% in September.
(Reporting by Lucia Mutikani)
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