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Home > Coronavirus > CHART OF THE DAY: U.S. industrial production expansion was smaller than expected in August

CHART OF THE DAY: U.S. industrial production expansion was smaller than expected in August

Sep. 15, 2020 by Jason Alexander

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After three months of sharp increases, U.S. industrial production growth was smaller than expected in August, according to a Federal Reserve report released Tuesday. Industrial production expanded by 0.4% on a monthly basis following July’s increase of 3.5% (revised from 3%), and is a sign that the economic recovery is starting to moderate. Analysts had called for an August increase of 1%.

While production increased for the fourth consecutive month, it remains 7.3% below its pre-pandemic February level, according to the Fed. Manufacturing output continued to improve in August, rising by 1%, although the Fed noted “the gains for most manufacturing industries have gradually slowed since June.” The increase in manufacturing output was partly offset by a sharp pullback in mining output, which plunged by 2.5% in August after jumping by 1.4% in July.

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Filed Under: Coronavirus, Economics, Industrials Tagged With: industrial production, industrials, manufacturing

About Jason Alexander

@jaalex53

Jason assists clients in the industrial products, consumer products and financial services industries and has more than 15 years of experience serving large multinational clients with particular emphasis on SEC clients, Fortune 500 and middle market companies. Jason has previously advised clients in the areas of accounting, risk management, mergers and acquisitions, process design and improvement, internal audit, regulatory compliance, internal and external financial reporting and information technology system implementation. Strong record of accomplishment of people, team and practice development across North America, Europe, Latin America, Africa and Asia.

Jason is also on the Board of Directors of the RSM US Foundation and a member of RSM’s cutting edge Industry Eminence Program, which positions participants to understand, forecast and communicate economic, business and technology trends shaping the industries RSM serves.

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