WASHINGTON (AP) – U.S. manufacturing production fell for the second straight month in September as factories cranked out fewer appliances, computers, and electronics.
The Federal Reserve says factory output declined 0.1 percent, following a drop of 0.4 percent in August. Manufacturers also cut back on production of steel and other metals.
The decline suggests that a strong dollar, weak overseas economies, and cautious U.S. consumers are holding back factory output. Many companies are also focused on reducing stockpiles that were built up in the spring by cutting back on orders for new goods.
Overall industrial production, which includes mining and utilities, fell 0.2 percent, also its second straight decline. Mining output plunged 2 percent as energy companies sharply reduced oil and gas drilling. Utility output rose 1.3 percent.