U.S. industrial production fell for a second straight month in September on renewed weakness in oil and gas drilling, the latest indication that the economy lost momentum in the third quarter.
Industrial output slipped 0.2% after a revised 0.1% dip in August, according to the U.S. Federal Reserve.
Economists polled by Reuters had forecast industrial production slipping 0.2% last month after a previously reported 0.4% decline in August.
Industrial production rose at an annual rate of 1.8% in the third quarter.
The industrial sector has been undermined by a slowing global economy and resurgent dollar, which have eroded demand for U.S. manufactured goods. It is also being weighed down by lower energy oil prices that have undercut capital investment in the energy sector, as well as a so-called inventory correction.
