Industrial Production Inched Down 0.1% in October
Washington, DC, November 16, 2022-Industrial production decreased 0.1% in October, and its gain in September was revised down to 0.1%, according to the Federal Reserve.
Manufacturing output edged up 0.1% in October, and its increases in July, August, and September were all lower than previously reported. In October, the index for mining stepped down 0.4%, and the index for utilities fell 1.5%.
At 104.7% of its 2017 average, total industrial production in October was 3.3% above its year-earlier reading. Capacity utilization decreased 0.2 percentage point in October to 79.9%, a rate that is 0.3 percentage point above its long-run (1972–2021) average.