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US industrial production stable in October

by ChemOrbis Editorial Team - content@chemorbis.com
  • 17/11/2016 (14:33)
According to the Federal Reserve, industrial output in the US was stable in October following the declines in August and September.

The Industrial Production Index did not change from September, after a drop of 0.2% in September and 0.1% in August. However, the Index showed that the industrial output in October dropped by 0.9% on a yearly basis when compared to the same period of 2015.

Mining, in which the oil and gas industry are included, increased by 2.1% in October following a decline in September while manufacturing output was up by 0.2% for the second month in a row. On a yearly basis, mining output posted a 7% decline while manufacturing was down by 0.2%.

Utilities dropped again by 2.6% following a 3% decline in September. This indicated a 0.1% decrease when compared to the same month of 2015.

Output of consumer goods fell in October for the second month, although construction materials were up again by 0.6% in October after a 0.5% increase in September.

As an indicator of how much production is utilized, industrial capacity was almost the same as September at 75.3% on a monthly basis but posted a small increase of 0.3% year on year.
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