No slowdown for US factories

DESPITE fears of a global economic slowdown US industrial output increased in September, according to Federal Reserve figures out last night.

Output increased by 0.2 per cent, compared with flat production registered in August.

However, manufacturing figures for New York State declined for the fifth consecutive month in October. At minus 8.48 the general business conditions index registered a slight improvement on September’s minus 8.82. The state’s new orders increased from minus 0.8 to a positive 1.6, the highest level since May.