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Tech & Science GM's 40-day strike drives the biggest drop in US factory output since April

18:20  16 november  2019
18:20  16 november  2019 Source:   businessinsider.com.au

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US factory output plunged the most since April as the 40 - day General Motors strike pulled the metric lower. Factory output of motor vehicles and related parts dropped 7.1% last month. Excluding the motor vehicles sector, US factory production only fell 0.1%.

Factory output of motor vehicles and related parts dropped 7.1% last month. Excluding the motor vehicles sector, US factory production only fell 0.1%. GM ' s 40 - day strike drives the biggest drop in US factory output since April .

  GM's 40-day strike drives the biggest drop in US factory output since April
  • US factory output plunged the most since April as the 40-day General Motors strike pulled the metric lower.
  • Manufacturing output dropped 0.6% in October, according to a Friday release from the Federal Reserve.
  • Factory output of motor vehicles and related parts dropped 7.1% last month. Excluding the motor vehicles sector, US factory production only fell 0.1%.
  • Visit the Business Insider homepage for more stories.

US factory output plummeted the most since April as the 40-day General Motors strike dragged on the crucial automotive sector.

Manufacturing output dropped 0.6% in October after falling 0.5% the previous month, according to a Friday release from the Federal Reserve. Output of motor vehicles and parts plummeted 7.1% last month as members of the United Auto Workers union walked out of factories in a strike to demand improved contracts.

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The 40 - day strike between UAW and GM cost the company nearly billion and even weighed on US factory output through October. GM ' s 40 - day strike drives the biggest drop in US factory output since April . Business Insider 6h. Mercedes-parent Daimler warns the costly transition to electric cars

U . S . Factory Output Drops by Most Since April on GM Strike . Excluding the 7.1% drop in motor vehicle output , which was the largest since January, factory production decreased a more modest 0.1% for a second month. Overall the strike cost the company nearly billion and lasted 40 days .

Total industrial production fell roughly 0.8% in October, its biggest decline since May 2018.

Excluding motor vehicles and parts, factory production fell only 0.1% in October, the same decrease seen in September. The GM strike lasted from September 16 to October 25, and cost the automaker nearly $US3 billion.

Roughly 49,000 UAW workers went on strike across 55 GM facilities to secure low-cost healthcare, wage increases, quicker access to full-time status for temporary workers, and increased profit-sharing. The workers ratified a new, four-year contract to end the strike in October.

"We are all so incredibly proud of UAW-GM members who captured the hearts and minds of a nation," UAW Vice President Terry Dittes said in a statement following the contract's ratification. "Their sacrifice and courageous stand addressed the two-tier wages structure and permanent temporary worker classification that has plagued working-class Americans."

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"In actuality, the potential for the United States is unlimited. We will power through the Do Nothing Dems!" Democrats and Republicans have pushed dueling narratives on impeachment hearings that came SEE ALSO: GM ' s 40 - day strike drives the biggest drop in US factory output since April ».

Excluding the 7.1% drop in motor vehicle output , which was the largest since January, factory production decreased a more modest 0.1% for a Overall the strike cost the company nearly billion and lasted 40 days .Aside from the slump in automaker output , production also retreated at makers of

GM also announced it would build an electric truck in an "unallocated" Detroit plant, and that it plans to build a new battery factory near an idled plant in Ohio.

UAW's new contract is now being used as a template for negotiations with Ford and other US automakers.

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