U.s. industrial production flat in October
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WASHINGTON – U.s. industrial production was flat in October, the Federal Reserve data has shown Tuesday, a weaker than expected showing that reflects a big drag utilities.
Economists polled by Reuters had expected a gain of 0.3 percent in October, after a decline of 0.2 percent in September.
Edged manufacture increase of 0.5%, its biggest gain since July, but utilities output fell by 3.4% due to the unusually warm weather reduced demand for heating.
Utilization capacity, a slowing economy, measure was 74.8% flat.Which increased by 6.6 percent to a low of June 2009 points but remains 5.8 points below its average 1972-2009.
Figures indicate that the economy continues to take along at a slow pace, step fast enough to make much of a dent in the rate of unemployment - or discourage the Fed to complete its planned $ 600 billion bond purchase program.
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