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Industrial Production In The United States Fell Unexpectedly In September
Industrial production in the United States fell unexpectedly in September and was the weakest since the spring fall caused by restrictions taken to slow the spread of the new coronavirus.
Yazar: Tom Roberts
Yayınlanma: 16 Ekim 2020 22:11
Güncellenme: 22 Kasım 2024 06:16
Industrial Production In The United States Fell Unexpectedly In September
Industrial production in the United States fell unexpectedly in September and was the weakest since the spring fall caused by restrictions taken to slow the spread of the new coronavirus. Industrial production fell 0.6 percent in September after a 0.4 percent increase in August, the United States Federal Reserve (Fed) said. Economists expected an increase of 0.5 percent. This was the first decline since the fall of 12.7 percent in April during the closure of the economy. Production in the manufacturing sector deteriorated by 0.3 percent in September after rising by 1.2 percent in August. Utility production fell 5.6 percent. On the contrary, production in mining and quarrying increased by 1.7 percent. Consumer sentiment in the United States improved in early October. It was mainly supported by an increase in expectations. However, despite a gradual recovery, it remains well below pre-pandemic levels. The consumer confidence index rose to 81.2 points in October from 80.4 points in September, the University of Michigan said in a preliminary estimate. Economists expected the index to rise to only 80.5 points. The expectations index rose to 78.8 points from 75.6 points and reached its highest level since March. The assessment index of the current situation fell to 84.9 points from 87.8 points. "The slowdown in employment growth, the sharp rise in COVID-19 positives and the absence of new federal support have raised consumer concerns about the current economic situation," said Richard Curtin, head of the University of Michigan Consumer Survey. He added that these concerns were offset by a slight increase in optimism about the outlook for the coming year. One-year inflation expectations rose to 2.7 percent in October from 2.6 percent in September, and 5-year inflation expectations fell to 2.4 percent from 2.7 percent.İLGİLİ HABERLER
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