The erosion of America's manufacturing sector intensified at the end of the third quarter, as industrial production posted a steep drop month-over-month.
While some of the decline was attributed to temporary factors like the General Motors strike, the downturn is part of a much broader trend that has intensified in the wake of the U.S.-China trade war.
U.S. Industrial Production Declines in September
Industrial production – a gauge of U.S. factory output at mines, utilities and manufacturing companies – fell 0.4% in September, the Federal Reserve reported Thursday. The decline was much bigger than the 0.1% slump analysts had expected.