Industrial Production Falls Flat In October
WASHINGTON (AP) — Industrial production was unchanged in October, even as manufacturers revved up to produce more big-ticket goods for consumers and businesses.
A drop in output by utilities offset factory growth.
The Federal Reserve says that output at the nation's factories, mines and utilities was flat last month after falling by 0.2 percent in September. That was its first decline since the recession ended.
The key manufacturing sector gained 0.5 percent last month, led by increased output of long-lasting goods such as autos, appliances and business equipment.
The Fed said factory production edged up by 0.1 percent in September. Earlier reports said manufacturing edged down that month.
Production by utilities in October fell by 3.4 percent, as warm weather eased demand for electricity and gas heat. Mines gave up 0.1 percent.
Copyright 2010 The Associated Press.