Industrial Production Declines in August

U.S. industrial production fell 1.1% in August, the Federal Reserve said Monday.

The decline in production at factories, mines and utilities was the biggest in three years.

Manufacturing, which accounts for about four-fifths of industrial production, fell 1% from July.

Economists had forecast a drop of 0.3%, Bloomberg reported.

The share of industrial capacity in use fell to 78.7%, the lowest level since October 2004.

The factory sector is one of trucking’s largest and most important customers.