US industrial production returns to pre-pandemic level: Fed

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Washington (AFP) – Production by US factories, mines and utilities in August surpassed the level seen before the pandemic caused an unprecedented collapse, according to Federal Reserve data released Wednesday. Industrial production increased 0.4 percent in August, but it could have been 0.3 percentage points higher had it not been for the effects of Hurricane Ida, which caused flooding and destruction in parts of Louisiana and the northeastern United States. The monthly increase was in line with analysts’ expectations and put it 0.3 percent above its level in February 2020, the last month of n…

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