WASHINGTON (AP) — U. S. commercial production rebounded in October as automakers, hit by supply chain problems, saw a sharp rise and the adverse effects of Hurricane Ida faded.
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WASHINGTON (AP) — U. S. commercial production rebounded in October as automakers, hit by supply chain problems, saw a sharp rise and the adverse effects of Hurricane Ida faded.
Industrial production rose 1. 6 last month after falling 1. 3 in September, the Federal Reserve said Tuesday.
September’s weakness severe semiconductor chip shortages contributed to a drop in auto production and the lingering effects of Hurricane Ida disrupting oil and fuel production along the Gulf Coast.
In the primary trade groups, productive activity increased by 1. 2%, while mining, which includes oil and fuel production, increased by 4. 1% and the country’s public service production increased by 1. 2%.
The overall accumulation of 1. 6% in commercial output is greater than economists expected.
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