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The Federal Reserve reported a declining trend in U.S. industrial output in October, largely due to strike action from the United Auto Workers (UAW) union, that resulted in the index for motor vehicles and parts falling 10 percent. Output from business equipment thereafter declined 0.5 percent along with a 5.8 percent decline in consumer durables. In journey towards the future, tighter lending requirements and a costlier exchange thereof predicted to hinder investments and break will hunch consumer discretionary buying.
With IBTimes Newsletter, find every single detail from Supreme Court’s code of conduct on justices, jobless claims soaring to highest levels ever, plans for Nose Down government shutdown, Citigroup’s job cuts announcements and an Energy Department initiative fueled with $3.5 billion-worth of storages to hype battery production.
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