WASHINGTON: Output by US industries fell 1.3 percent last month amid continued supply constraints hindering manufacturing, the Federal Reserve reported Monday.
Declines were apparent across multiple categories, but stark in the auto sector, with production of motor vehicles and parts falling 7.2 percent "as shortages of semiconductors continued to hobble operations," the central bank said.
The drop came as a surprise as economists were forecasting a modest increase in industrial production.
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