Industrial Production in the United States expanded by 0.4% on a monthly basis in August, the data published by the US Federal Reserve revealed on Wednesday. This print followed July's increase of 0.8% (revised from 0.9%) and came in slightly weaker than the market expectation of 0.5%. Additional takeaways • "Late-month shutdowns related to Hurricane Ida held down the gain in industrial production by an estimated 0.3 percentage point." • "Although the hurricane forced plant closures for petrochemicals, plastic resins, and petroleum refining, overall manufacturing output rose 0.2%." • "Capacity ... (full story)