US industrial output slows

Washington: US industrial output rose at a slower pace in August and a measure of New York state business conditions slipped to the lowest level in more than a year, according to data on Wednesday that suggested the economy was cooling but not stalling.

Industrial production rose 0.2% in August, matching economists’ forecasts for a sharp slowdown from July when unusually strong auto manufacturing lifted output, Federal Reserve data showed. July’s gain was revised 0.6% from 1%.