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Thursday, October 16, 2008

Industrial Production Non-Existent in September

I was traveling today (hence the burrito post), but back to today's economic releases...

Per Forbes:

Manufacturing output dropped by 2.6%, the largest monthly decline seen since May 1980. Mining output fell by 7.8%, the largest drop since September 2005. Output at utilities managed to rise 2.2% after two prior months of declines.

Industrial production is 4.5% lower than its level a year earlier, and capacity use is 4.6% lower than its average level from 1972 to 2007.