SSO - Energy And Vehicle Production Fall While Other Industries Continue To Rebound
By Robert Hughes
Industrial production rose 0.4 percent in August following a jump of 3.5 percent in July, a surge of 6.1 percent in June and a gain of 1.0 percent in May. However, the four consecutive months of gains were not enough to overcome the back-to-back declines of 4.4 percent and 12.9 percent in March and April, respectively. Over the past year, industrial production is down 7.7 percent and 7.2 percent below the pre-pandemic level in February.
Manufacturing output, which accounts for about 75 percent of total industrial production, rose 1.0 percent after a