Industrial Product Slips in Wake of Storm
Washington, DC, Nov. 16, 2012 -- Industrial production in the U.S. fell unexpectedly last month as superstorm Sandy knocked out power in the Northeast, according to the Federal Reserve.
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Output at factories, mines and utilities dropped 0.4% last month after a revised 0.2% increase in September.
Economists forecast a 0.2% gain. The Fed said the storm cut total production by almost percentage point.