U.S. manufacturing output falls for the first time in seven months

391
3
U.S. manufacturing output falls for the first time in seven months

- Production at U.S. manufacturers fell in September by the most in seven months in part reflecting a sharp pullback in the manufacturing of motor vehicles as well as the wider backlogged supply chains and materials shortages.

None of Google s Biggest Moonshot Is Its Search for A Carbon-Free Future.

No The Biggest Public Graveyard in the U.S. Is Being Landed as a Park?

Why is Buying a Second or Even Third Home More Popular Than Ever?

None of Out-of-Practice Airline Pilots Are Making Errors back in the air.

The 0.7% decline for manufacturers followed a revised 0.4% decline in August, Federal Reserve data showed on Monday. Power production, which also includes mining and utility output, fell 1.3% in the last month.

The median estimate in a Bloomberg survey of economists for a 0.1% monthly rise in both factory production and industrial output called for. Stocks rose after share trading closed and Treasury yields were up.

Resilient demand among firms and consumers has kept production elevated, but it has also contributed to order backlogs as manufacturers struggle to source materials and skilled labor. The weaker, than expected September print indicates that producers continue to be held back by snarled supply chains.

The figures also reflect ongoing manufacturing challenges since Hurricane Ida, which contributed 0.3 percentage point to the failure of manufacturing, the Fed said.

The report showed the motor parts output fell 7.2% last month, the sharpest drop since April, after a 3.2% decrease in August, as a global shortage of semiconductors continues to weigh on production.

Automakers including Toyota Motor Corp. have slashed production outlook in the coming months, citing the parts shortage as a limiting factor. S&P Global Ratings also lowered its U.S. auto sales forecast for this year and expects a bumpy road in 2022.

The production of durable goods rose 0.5%, excluding motor vehicles, reflecting gains in the manufacturing of primary metals, electrical equipment and furniture, the Fed said. Nondurable manufacturing, which includes chemicals and paper products, fell 1% in the past month, the biggest since February.

Manufacturing job openings are near a record high and for the products factories can source, prices have soared. Recent data from the Labor Department showed that a price gauge of processed goods for intermediate demand, which include materials and components used in manufacturing and construction, are up almost 24% from 12 months ago.

None the Manufacturing capacity utilization, a measure of plant use, decreased to 75.9%, while total industrial capacity dropped to 75.2%

In September, none Utility output decreased 3.6% and drilling for oil and gas sank 1.2%.

None Production of office equipment rose 0.4% after a decline of 0.6% in the prior month.

How Can Gwyneth Paltrow Shortcircuit My Thinking Ability to Think Rationally?

None These Out-of-Work America tells us Job market Turmoil Is Anything But Transitory.

What I can't answer about the science of persuasion?

None Jane Fraser Has a plan to remake Citigroup While Tormenting Rivals Are On The War.