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Industrial production jumps
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Thu, Nov 18, 2004
Source UPI
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WASHINGTON -- The U.S. Federal Reserve said Wednesday industrial output grew in October at its fastest pace in three months. Capacity utilization reached its highest level since the 2001 recession, the Fed said.
The Fed said industrial production rose 0.7 percent last month. This followed an unrevised 0.1 percent increase in industrial production in September and a 0.1 percent decline in August. October industrial capacity use rose to its highest level since May 2001. Capacity utilization last month was reported at 77.7 percent, compared to September's 77.3 percent level. Wall Street economists were expecting a 0.4 percent rise in production and capacity utilization of 77.4 percent. In October, manufacturing production rose 0.7 percent after an unrevised 0.3 percent decline in September. October manufacturing capacity use came in at 76.8 percent, up from September's revised level of 76.4 percent, initially reported as 76.3 percent. The Fed said in October, utilities production rose 0.7 percent after a 5.3 percent rise in September and a 2 percent decline in August. Utilities capacity use rose to 85.4 percent last month from 84.8 percent in September and 80.5 percent in August. Copyright 2004 by United Press International
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