Industrial production falls 1.3% as effects from Ida linger

By MATT OTT
AP Business Writer

SILVER SPRING, Md. (AP) — The Federal Reserve reported Monday that U.S. industrial production fell 1.3% in September, much more than expected as the lingering effects of Hurricane Ida continue to stymie activity. It was the worst showing since February’s 3.1% decline, when severe winter storms hammered much of the country. Nearly half, or 0.6% of the overall decline in total industrial production was attributable to the hurricane. The Fed revised August’s reading down from a 0.4% gain to a 0.1% decline. Industrial production covers manufacturing, utilities and mining.