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Barclays economists noted that........>

US DATA REACT
US DATA REACT: Barclays economists noted that "industrial production was hit by
Hurricane Harvey" as it "fell 0.9% m/m in August, the first decline in 7 months.
The Federal Reserve estimates that 0.75pp of the drop was a result of Hurricane
Harvey. It added that the manufacturing industries with the largest estimated
storm-related effects were petroleum refining, organic chemicals, and plastics
materials and resins. The weak August data leave the sector looking vulnerable
ahead of further possible negative disruption in September."
- They add "although the storm clearly dragged down production significantly,
the Fed estimates suggest industrial production may have decline modestly even
without the hurricane. Details of the report show the declines were broad based
across industry and market groups. Manufacturing (-0.3%), utilities (-5.5%) and
mining (-0.8%) all reported falling output in August."

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