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US Factory Production Drops as Auto Industry Struggles

US Factory Production Drops as Auto Industry Struggles

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Production at American factories saw a surprise drop at the end of 2021, helped along by a decline in motor vehicle manufacturing, which was itself caused by the continuing semiconductor shortage. As Reuters reported Friday (Jan. 14), manufacturing output fell by 0.3% in December after increasing by 0.6% the month before, per Federal Reserve figures.

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