Industrial Production Unchanged in October

Industrial production was unchanged in October after falling 0.2% in September. Over the last year, industrial production is down by 0.9%.

ind-prod

Manufacturing output rose 0.2% in October after also climbing 0.2% in September. Production of durable goods increased by 0.4%, while nondurable goods production remained unchanged. Capacity utilization for manufacturing increased by 0.1 percentage point to 74.9%, a rate that is 3.6 percentage points below its long-run average.

The mining index moved up 2.1% in October, its largest increase since March 2014. Declines in the extraction of crude oil and natural gas were outweighed by gains for most other mining industries, particularly coal mining. 

The utilities index fell 2.6% in October, as the demand for heating was reduced by warmer-than-normal temperatures.

Read the Fed release. 

 

About Jack McCabe