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US manufacturing output fell more than expected in September due to GM strikes

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Update time : 2019-10-18 09:46:19
US manufacturing output fell more than expected in September due to GM strikes

Financial sector US stocks US industrial output fell by 0.4% in September, and is expected to fall by 0.1%. The previous value was revised from 0.6% to 0.8%. Manufacturing output in September fell by 0.5% month-on-month, with an estimated 0.3% decline. The previous value was revised from a 0.5% increase to 0.6%.

Although the single-family residential project was stable, the US housing starts in September fell from a 12-year high, suggesting that the property market is stabilizing as mortgage interest rates are low and demand is stable.

According to official statistics released on Thursday, the number of new housing starts fell by 9.4% in September to an annualized rate of 1.26 million. Economists who were less than Bloomberg survey expected that the data was revised to 1.39 million last month; multi-family housing category The performance is weak. Building permits that indicate future housing starts are down 2.7% to an annualized rate of 1.39 million, exceeding expectations.

The number of single-family residential buildings started to increase at the fastest rate since January. However, the construction of apartment buildings has dropped by 28.2%, and this category usually fluctuates greatly.

The report showed some signs of cooling in the market, and the start of new homes fell from the best performance since 2007 recorded last month. In the context of low mortgage interest rates, high wages, and tight labor markets, construction activity has stabilized, and the housing market has begun to show positive momentum after continuing to drag on the economy since 2017.

Institutional evaluation of US industrial output data in September: US manufacturing output fell more than expected in September, mainly due to events such as GM strikes; due to the global economic weakness and international trade disputes, the factory prospects remain sluggish. Manufacturing, which accounts for 11% of the US economy, has been sluggish for 15 months, and trade uncertainty has hurt business confidence and investment. Another survey this month showed that US manufacturing activity fell to a 10-year low in September due to severe export damage.
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