September 15, 2008
Industrial Production Down 1.1% In August
By Matthew L. Brown
The nation's industrial production decreased 1.1 percent in August, the steepest drop in three years, according to the Federal Reserve.
Industrial production figures were also revised down for June and July to show smaller gains of 0.2 percent and 0.1 percent respectively. Factory output was down 1 percent in August, in part because of a drop of 11.9 percent in the production of motor vehicles and parts.
Excluding motor vehicles and parts, the index for manufacturing decreased 0.3 percent. The output of mines declined 0.4 percent and the output of utilities fell 3.2 percent.
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