Industrial production falls by most since late `74 - WKOW 27: Madison, WI Breaking News, Weather and Sports

Industrial production falls by most since late `74

WASHINGTON (AP) -- The Federal Reserve reports that industrial production in September posted its biggest drop since late 1974, mostly reflecting disruptions from hurricanes Gustav and Ike.

  The Federal Reserve said Thursday industrial production at the nation's factories, mines and utilities plunged 2.8 percent in September, on top of a 1 percent drop in August.

  September's decline was the largest since December 1974, when industrial production fell 3.5 percent.

  The latest showing on industrial activity was worse than economists expected.

  They were forecasting a decline of 0.8 percent.

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