US sees lukewarm industrial production in August: Fed

US sees lukewarm industrial production in August: Fed

Washington (AFP) – US industrial production continued to recover from the Covid-19 downturn in August but its pace was slowed by bad weather and a pullback in car manufacturing, the Federal Reserve said Tuesday.Production rose 0.4 percent last month, well below the 3.5 percent gain seen in July and 7.3 percent below its level in February, before the pandemic, the Fed said.Hurricane Laura and Tropical Storm Marco brought temporary shutdowns to oil and gas production in the southern United States, causing mining production to fall 2.5 percent in the month.Durable and non-durable manufacturing sa…

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