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US industrial production falls for second month

FXStreet (Mumbai) - The US industrial production contracted for a second month in September as lower overseas demand as well domestic demand weighed over producers.

Total industrial production dropped 0.2%, from the downwardly revised 0.4% in August. Manufacturing production dropped 0.1%. The official report showed Mining production, which includes oil drilling, slumped 2%, the most in four months. Oil and gas well drilling decreased 4%.

A sharp rise in the USD index has led to a sequential drop in the US exports, leading to the weakness in the US industrial production figures.

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