Industrial Production Rises 1.1% in October

Industrial production rose 1.1% in October. The index has recovered much of its 16.5% decline from February to April, but output in October was still 5.6% lower than its pre-pandemic February level. After edging up 0.1% in October, manufacturing output increased 1.0% in October.

Durables manufacturing rose 0.9% and nondurable manufacturing increased 1.2% from the previous month.

Mining output fell 0.6% in October. Mining output declined 0.6%, as oil and gas extraction fell back in October after posting a gain in September.

The output of utilities increased 3.9%; the output of electric utilities rose 5.5%, while the output of natural gas utilities declinesd 3.5%.

Read the Fed release.