US industrial production declines 0.2% in October
Manufacturing output, however, climbed 0.4% while production of automotive parts rose 0.8% from a month earlier. However, utilities output fell 2.5% in October due to a decrease in output from electric utilities.
The report also showed that US industrial capacity utilization fell 0.2% to 77.5% in October from a revised rate of 77.7% in September in line with economists’ forecast which called for a capacity utilization of 77.5%.
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