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ECONOMICS COMMENTARY
Nov 15, 2013
Drop in US industrial production marks disappointing start to fourth quarter
A surprise fall in industrial production represented a disappointing start to the fourth quarter, but is likely to be brushed off by the Fed, who will no doubt focus on the improving pace of expansion signalled in the manufacturing sector. However, even situation in manufacturing falls well short of the strong pace of expansion seen earlier in the year, suggesting policymakers will be wary of tapering policy in December, waiting instead until growth is back on a firmer footing.
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