August industrial output gains slow to 0.4%

U.S. industrial production slowed to a 0.4 percent gain in August as shutdowns of petroleum refineries and petrochemical plants caused by Hurricane Ida curbed manufacturing activity. Plant closures long the Gulf Coast as well as lost oil production during last month’s hurricane shaved 0.3 percentage points from output, the Federal Reserve reported Wednesday. Industrial output had risen a revised 0.8 percent in July. Industrial production covers manufacturing, utilities and mining. For just manufacturing, factory output slowed to a tiny 0.2 percent gain, reflecting the hurricane impact and continuing supply chain problems. Factory output had risen a much stronger 1.6 percent in July.