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Output drops worse-than-expected 1.1 percent
Sep 15, 9:16 AM (ET)
By MARTIN CRUTSINGER
WASHINGTON (AP) - Government data show the nation's industrial output plunged in August by nearly four times the amount that had been expected. It's the worst performance since Hurricane Katrina devastated the Gulf Coast in 2005.
The Federal Reserve reported Monday that industrial output dropped 1.1 percent last month, far worse than the 0.3 percent decline that economists had been expecting.
The weakness was led by an 11.9 percent drop in production of motor vehicles and parts, reflecting the hard times facing the U.S. auto industry.
http://apnews.myway.com/article/20080915/D93761TG2.html
Sep 15, 9:16 AM (ET)
By MARTIN CRUTSINGER
WASHINGTON (AP) - Government data show the nation's industrial output plunged in August by nearly four times the amount that had been expected. It's the worst performance since Hurricane Katrina devastated the Gulf Coast in 2005.
The Federal Reserve reported Monday that industrial output dropped 1.1 percent last month, far worse than the 0.3 percent decline that economists had been expecting.
The weakness was led by an 11.9 percent drop in production of motor vehicles and parts, reflecting the hard times facing the U.S. auto industry.
http://apnews.myway.com/article/20080915/D93761TG2.html