U.S. manufacturing output rises moderately in January

[mahatmakanejeeves]

Source: Reuters, via Yahoo! Finance

Reuters

U.S. manufacturing output rises moderately in January

Wed, February 16, 2022, 9:46 AM

WASHINGTON (Reuters) - Production at U.S. factories increased moderately in January as motor vehicle output fell for a second straight month amid an ongoing global shortage of semiconductors.

Manufacturing output gained 0.2% last month after dipping 0.1% in December, the Federal Reserve said on Wednesday. Economists polled by Reuters had forecast factory production rebounding 0.3%. Output increased 2.5% compared to January 2021.

Shortages of materials have also afflicted other segments of manufacturing, in addition to the motor vehicle industry.

Spending shifted towards goods from services during the COVID-19 pandemic, but manufacturers have struggled to cope amid an acute shortage of workers on factory floors and other places along the supply chain, caused by the coronavirus.

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Read more: https://finance.yahoo.com/news/u-manufacturing-output-rises-moderately-144614623.html

[Turbineguy]

1. Republicans will not be happy with this news.

[Claustrum]

2. They will not see this news.........

Any good news for democrats or Biden is not allowed in their propaganda networks.