By Gabriel T. RubinU.S. industrial output increased modestly in August as a drop in auto manufacturing dented overall production. Industrial production, which measures manufacturing, mining and utilities output, rose 0.4% in August from the prior month, the Federal Reserve said Friday, following a 0.7% gain in July. Manufacturing output, the majority of industrial production, increased 0.1% last month, compared with a 0.4% rise in July. On a 12-month basis, overall industrial production rose 0.2% and manufacturing fell 0.6%. Manufacturing output has fluctuated as the Fed increased interest rates to slow the economy and bring down inflation.

Source: Wall Street Journal September 16, 2023 01:50 UTC