Industrial Production Drops The Most In 34 Years

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.

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