U.S. Output Up Slightly In August
The NationÛªs industrial production increased slightly in I August, the Federal Reserve I Board reported yesterday.</br></br>Record output of commercial and industrial machinery was balanced by declines in iron and steel. There was little change in the rate of production for automobile and other consumer goods.</br></br>Industrial production was measured at 144.4 on the Federal ReserveÛªs scale compared to 144.2 in July. This meant that production of the NationÛªs factories and mines was 44.4 per cent higher than the 1957-59 level.</br></br>The gain was the smallest since April but it marked the 10th straight month that the index has moved upward. The last decline was caused by work stoppages in the automobile industry last October.</br></br>The Federal Reserve said construction activity remained at a high level while retail sales showed a slight decline.