This is a syndicated repost courtesy of Snake Hole Lounge. To view original, click here. Reposted with permission.
US Industrial Production fell -0.9% MoM in August, the worst decline since May 2009 during The Great Recession.
The Federal Reserve blamed the decline on Hurricane Harvey.
Hurricane Harvey, which hit the Gulf Coast of Texas in late August, is estimated to have reduced the rate of change in total output by roughly 3/4 percentage point.
This post was published at Wall Street Examiner by Anthony B Sanders ‘ September 15, 2017.