Industrial production fell 0.1% in October, the Federal Reserve reported Wednesday.
The numbers: U.S. industrial production fell 0.1% in October, the Federal Reserve reported Wednesday.
The gain was below Wall Street expectations of a 0.1% gain, according to a survey by The Wall Street Journal.Capacity utilization dipped to 79.9% in October from 80.1% in the prior month. The capacity utilization rate reflects the limits to operating the nation’s factories, mines and utilities.Key details: Manufacturing output edged up 0.1% in October and increases in July, August and September were all lower than previous estimates.
Utilities output fell 1.5% in October after a 1.7% drop in the prior month. Mining output, which includes oil and natural gas, fell 0.4% after a 0.7% gain in the prior month. “Overall, manufacturing is close to stagnation,” said Paul Ashworth, chief North American Economist at Capital Economics.
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