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WASHINGTON (Reuters) – Manufacturing output in the United States declined in July, halting two consecutive months of growth.
The Federal Reserve said Thursday that factory output fell 0.4% last month, exceeding the expectations of badysts polled by Reuters, who had forecast a drop of 0.1%.
Overall industrial output fell 0.2% in July, while badysts forecast an increase of 0.1%.
The data could heighten worries about the strength of the manufacturing sector in the world's largest economy, as fears of a global economic downturn persist. The drop in July was the largest since April.
The Fed said manufacturing output has fallen more than 1.5% since December 2018.
(Reuters)
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