Industrial Production in U.S. Rose 0.1% in October

Industrial production in the U.S. rose less than forecast in October, restrained by a reduction in auto manufacturing as the effects of trade-in incentives dissipated and a decline in demand for business equipment.

Output at factories, mines and utilities rose 0.1 percent following an increase of 0.6 percent in September, the Federal Reserve said today in Washington. Manufacturing production fell for the first time in four months, while utility output jumped by the most since December.

Auto manufacturing declined following the biggest three- month surge since the 1970s and companies are staying cautious about the strength of the recovery with unemployment at a 26- year high. The labor market explains why “significant economic challenges remain,” Federal Reserve Chairman Ben S. Bernanke told the Economic Club of New York yesterday.

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- Posted: 2009-11-17 09:30:24

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