Industrial production increased 1.3% in October after a downwardly revised decline of 3.7% in September, the Federal Reserve reported. The revision to September output resulted, in part, from a larger estimate of the impact of Hurricanes Gustav and Ike on the chemical industry.
Manufacturing production, which dropped 3.7% in September, rose 0.6% in October. The output of mines advanced 6.1%, as most crude oil and natural gas operations in the Gulf of Mexico were brought back online after the hurricanes. The output of utilities rose 0.4%.
Industrial production in September and October was substantially affected by the hurricanes and a strike in the commercial aircraft industry. Excluding these special factors, total industrial production is estimated to have …
Industrial Production Up 1.3% in October
Industrial production increased 1.3% in October after a downwardly revised decline of 3.7% in September, the Federal Reserve reported. The revision to September output resulted, in part, from a larger estimate of the impact of Hurricanes Gustav and Ike on the chemical industry.
Manufacturing production, which dropped 3.7% in September, rose 0.6% in October. The output of mines advanced 6.1%, as most crude oil and natural gas operations in the Gulf of Mexico were brought back online after the hurricanes. The output of utilities rose 0.4%.
Industrial production in September and October was substantially affected by the hurricanes and a strike in the commercial aircraft industry. Excluding these special factors, total industrial production is estimated to have …
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