US industrial output up in September amid small hurricane impact by Staff Writers Washington (AFP) Oct 16, 2018 US industries saw only a small hit from Hurricane Florence, which devastated parts of the mid-Atlantic region in September, and output rose at a steady pace, the government reported Tuesday. Strong auto and petroleum production were again key drivers in the sector, according to the Federal Reserve. Industrial production rose 0.3 percent last month compared to August, as the Fed said output growth was "held down slightly" by Florence, which shaved less than a tenth of a point off the increase. Manufacturing posted a more modest 0.2 percent gain, while the mining sector, which includes the booming oil and gas industry, jumped 0.5 percent for its eighth consecutive increase, the report said. The Fed said overall mining output had gained 24 percent since its low point in 2016, driven by oil and gas, even as drilling had declined in the last three months. Meanwhile, utilities were flat after a big jump in August, the data showed. Motor vehicle production again helped drive the overall increase, with a 2.6 percent gain in the month, and is up more than 11 percent from a year earlier. Wood products and metals also rose, while the Fed said the only significant decline was in "nonmetallic mineral products." Industrial production is up 5.1 percent in the year ended in September, while manufacturing output has increased 3.5 percent and mining surged 13.4 percent. Installed capacity in use remained steady at 78.1 percent, which is 1.7 points below its long-run average, the report said.
US-China trade row not a threat to world economy: Mnuchin Nusa Dua, Indonesia (AFP) Oct 13, 2018 US Treasury Secretary Steven Mnuchin pushed back Saturday against warnings that Washington's trade fight with China imperils the world economy, saying that pushing Beijing to open up will be good for all. The IMF has warned this week at annual meetings in Bali that the escalating US-China trade confrontation would hobble global economic growth, as the fund lowered its forecasts for this year and next. But Mnuchin told reporters on the Indonesian resort island that President Donald Trump's drive ... read more
|
|
The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us. |