US industrial production drops 0.4% in October
Quotes

US industrial production drops 0.4% in October

Last Updated: Saturday, November 17, 2012, 13:52
 
 Comment 0
 
US industrial production drops 0.4% in October
Washington: US industrial production dropped 0.4 percent in October as superstorm Sandy held down output in the Northeast region, the US Federal Reserve reported.

The October decrease in industrial production, an indicator of the output of mines, factories and utilities, followed a revised 0.2 percent gain in the previous month, reported Xinhua.

The Fed said hurricane Sandy, which knocked out power in the Northeast, is estimated to have reduced the rate of change in total output by nearly 1 percentage point.

Manufacturing output, the largest component of the overall industrial production, fell 0.9 percent last month. The output of mining sector advanced 1.5 percent, and the output of utilities edged down 0.1 percent.

The report also showed that overall industrial capacity utilization -- a key measure of slack in the industrial economy -- stood at 77.8 percent in October, 0.4 percentage point lower than the previous month and 2.5 percentage points below its average from 1972 to 2011.

IANS



First Published: Saturday, November 17, 2012, 13:49


Comments


comments powered by Disqus
Jaguar high-wire water crossing
Jaguar high-wire water crossing
2015 DFW Auto Show
2015 DFW Auto Show
Samsung Galaxy S6, Galaxy S6 Edge
Samsung Galaxy S6, Galaxy S6 Edge
Hyundai i20 Active
Hyundai i20 Active
Forbes` 10 Richest Indians 2015
Forbes` 10 Richest Indians 2015

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved