Poll sees drop in production

September 15, 1992|By Bloomberg Business News

WASHINGTON -- U.S. industrial production, reflecting a drop in factory employment, decreased 0.4 percent in August, according to the average of 12 forecasts in a Bloomberg survey.

The Federal Reserve System is scheduled to release its report tomorrow. The output of the nation's factories, mines and public utilities rose 0.4 percent in July.

"The August production report is likely to be weak across the board," said analysts at Mitsubishi Bank in New York.

The Labor Department's employment statistics for August tell most of the story. Manufacturing payroll jobs decreased by an unexpected 97,000 last month.

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