US manufacturing output falls in August after rising for seven straight months
SPY•Factory output unexpectedly declines in August
U.S. factory production unexpectedly fell in August after seven straight monthly increases, but activity remains supported by an artificial intelligence buildout.
Manufacturing output dropped 0.3% last month following an unrevised 0.2% rise in July, the Federal Reserve said on Friday. Economists polled by Reuters had forecast production increasing 0.3%. Output advanced 0.9% year-on-year in August.
