Factory Output Declines For Second Month

Nov. 16, 2006
October's two-tenths percent decline matches September's.

Led by lower auto production, overall U.S. factory production fell two-tenths of a percentage point in October, the same rate of decline that was recorded in September, the Federal Reserve Board reported on Nov. 16.

The board's manufacturing index now stands at 115.5.

Capacity utilization in the manufacturing sector of the U.S. economy also fell in October, down three tenths of a percentage point to 80.7% from 81% in September.

Excluding the auto sector, U.S. manufacturing output rose a tenth of a percentage point in October.

Overall U.S. industrial production, which adds mining and utilities to manufacturing, rose two-tenths of a percentage point in October, after a six-tenths decline in September. The board's industrial production index now stands at 113.7.

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