Total industrial production decreased 0.3% in October after declining 0.5% in September, according to the Federal Reserve. Total industrial production in October was 0.3% below the same time one year ago.
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The decline was attributed to a strike at a major producer of civilian aircraft along with Hurricane Milton and Helene.
Manufacturing output declined 0.5% in October, the mining index rose 0.3%, and the utilities index gained 0.7%. Capacity utilization declined to 77.1% in October, 2.6 percentage points below its long-run (1972-2023) average.
