Industrial Production Drops The Most In 34 Years
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New data showed that Industrial Production in the U.S. sank 2.8% in September, which was the worst drop in 34 years and much slower than expected. The U.S. cited hurricanes and the Boeing (NYSE: BA) aircraft strike.
The government said the Gulf Coast hurricanes accounted for 2.25% of the decline and a strike at Boeing accounted for most of the rest of the drop.
Investors fear the credit crisis will drive production down further.
The government said the Gulf Coast hurricanes accounted for 2.25% of the decline and a strike at Boeing accounted for most of the rest of the drop.
Investors fear the credit crisis will drive production down further.
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