Friday, September 14, 2007

Industrial Production Data: TEPID

DJ Data Snap shows overall production, weaker than expected at 0.2%, would have been little changed were it not for a more than 5% jump in utility output during the hot month of August.

Key take-a-way from the Fed: "Manufacturing retrenchment was broad-based, and extended to both durable and nondurable goods, the Fed said. Production of wood products, machinery, electrical equipment, appliances, motor vehicles, and furniture all fell. Nondurable goods - such as food, textiles, petroleum and plastics - all declined."

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