U.S. industrial production fell 0.6% in September, the weakest showing since spring and a sign that the economy’s recovery from the pandemic recession may be faltering just as confirmed viral infections are resurging in much of the country.
The Federal Reserve reported Friday that industrial production suffered its first decline since a 12.7% drop in April during the spring lockdowns of businesses that paralyzed the economy. The key category that reflects manufacturing output fell 0.3%. At the same time, mining output, which includes oil and gas exploration, fell 5.6%. Production at utilities rose 1.7%.