US industrial production tumbled in August

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Source: BBC
US industrial output contracted the most in three years in August amid oil production cuts and slowing factory production. National industrial production slumped 1.2% last month while factory output slid 0.7%, indicating retailers' reluctance to purchase inventories during global economic uncertainty. Meanwhile, retail sales climbed for the second consecutive month on increasing spending on fuel. However, experts claim that positive retail sales data were a result of accelerated inflation last month.
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