Harvey sends US industrial production down most in 8 years
September 15, 2017
WASHINGTON (AP) — U.S. industrial output plunged 0.9 percent in August, the most in eight years, mostly because of Hurricane Harvey's damage to the oil refining, plastics and chemicals industries.
The storm, which slammed into the Gulf Coast in Texas and Louisiana late last month, lowered industrial production by about 0.75 percentage point, the Federal Reserve said Friday. That suggests production would have slipped without the hurricane.
The Gulf Coast is home to many of the nation's oil refiners, and petroleum is a key component in the manufacturing of plastics and chemicals.