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Real Manufacturing Output Fell for the Second Straight Month in September
wallstreetexaminer.com / by Alan Tonelson via RealityChek /
The Federal Reserve’s new September industrial production figures were mixed for overall. Real output fell for the second straight month (by a bare 0.08 percent), but figures for two of the last three months were revised up. Nonetheless, stripping out the automotive sector shows the rest of domestic industry still suffering a recession that extended into its tenth month, with after-inflation production still lower than last November’s levels. Manufacturing’s real year-on-year growth in September was the slowest since February, 2014. And constant dollar manufacturing output still remains lower than at the outset of the last recession, nearly eight years ago.
Here are the manufacturing highlights of the Federal Reserve’s new release on September industrial production:
>Inflation-adjusted output edged down sequentially in September by 0.08 percent – its second consecutive monthly decline – the Federal Reserve’s new industrial production figures reported.
>More encouragingly, revisions to previous Fed manufacturing production readings were generally positive. August’s initially reported 0.49 percent monthly shrinkage – which would have been the worst such reading since winter-depressed January, 2014 – was revised up to a 0.35 percent decrease. July’s 0.89 percent gain was revised up to 1.06 percent – the bet since January, 2014. But June’s dip is now pegged at 0.16 percent, not 0.13 percent.
>The automotive sector’s performance was also positively revised by the September Fed report. August’s 6.44 percent plunge – which would have been its biggest since April, 2011 – was revised up to a 5.36 percent decline. And July’s 10.59 percent surge is now estimated to have been 10.64 percent. In September, real automotive output climbed by another 0.16 percent.
The post Real Manufacturing Output Fell for the Second Straight Month in September appeared first on Silver For The People.
Source: http://silveristhenew.com/2015/10/17/real-manufacturing-output-fell-for-the-second-straight-month-in-september/
