Output at US factories plunged in August due to the big hit from Hurricane Harvey that shut down huge parts of the nation's oil refining, the Federal Reserve reported Friday. The massive storm that hit the Gulf Coast of Texas late that month is estimated to have cut US industrial production by three-quarters of a percentage point, the report said. Total industrial output fell by 0.9 percent compared to July. |
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All rights reserved to Arab Today Media Group 2021 ©
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