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.
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.