Hurricane Ida, supply constraints hold back U.S. factory production

Hurricane Ida, supply constraints hold back U.S. factory production

Macro Matters Hurricane Ida, supply constraints hold back U.S. factory production - Summary - Manufacturing production increases 0.2% in August - Industrial output rises 0.4%; Hurricane Ida hurts mining - Import prices fall 0.3% in August; up 9.0% year-on-year WASHINGTON, Sept 15 (Reuters) - Production at U.S. factories slowed sharply in August as Hurricane Ida forced plant closures and an ongoing microchip shortage curbed motor vehicle output, but manufacturing remains strong amid lean inventories. There was more goods news on the inflation front. Import prices declined for the first time in 10 months in August, other data showed on Wednesday. Persistent bottlenecks in the supply chain could, however, keep inflation high. Federal Reserve Chair Jerome Powell has maintained that high inflation is transitory. "Growth in manufacturing going forward is likely …
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