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Industrial Production Down

U.S. manufacturing has dropped to its slowest pace since the 1980s, the Federal Reserve reports.
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Industrial production slowed in November as the year-long recession continued to hurt U.S. manufacturers, the Federal Reserve reported this week.

November saw a 0.6 percent drop in production industry-wide, despite a boost in commercial airliner manufacturing following the resolution of a strike by Boeing factory workers earlier in the month.

Every major industrial sector reported a drop in activity last month except for mining, which saw an upswing as a result of an increase in crude oil and natural gas supplies.

In the past year, industrial production has fallen by 5.5 percent, the biggest yearly decline since 1980.

Last updated: Dec 15, 2008




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