U.S. factory output slid last month as a shortage of computer chips disrupted auto production, the Associated Press reported. Manufacturing production dipped 0.1% in June — third drop in five months, the Federal Reserve reported Thursday. Overall, industrial production — including output at factories, mines and utilities — rose 0.4% last month after increasing 0.7% in May. Industrial output is up 9.8% from a year earlier. The chip shortage pushed production of cars, trucks and auto parts down 6.6% in June. Excluding autos, industrial production rose 0.4% last month. Utility output climbed 2.7% in June as Americans cranked up the air conditioning to battle a heat wave across much of the country. Mining output rose 1.4% on an uptick in oil and gas production.
