US industrial production stable in October
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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