Washington, DC, November 18--Industrial production rose 0.7 percent in October, according to the Federal Reserve. Capacity utilization rose to 77.7 percent from a revised 77.3 percent for September.
Economists had been expecting October's production to rise 0.3 percent and capacity utilization to increase to 77.4 percent.
Industrial production in September rose an unrevised 0.1 percent.
The Fed said part of last month's larger-than-expected increase resulted from a "bounceback" from slowed production in September caused by the spate of hurricanes in the Southeast, "although the exact magnitude of contribution is difficult to estimate."
Over the past 12 months, industrial production has risen 5.2 percent.
The three major subcategories -- manufacturing, mining and utilities -- each rose 0.7 percent in October.
Production of consumer goods rose 0.6 percent for the month, after rising 0.2 percent in September.
October's production of business equipment rose 0.5 percent for a second consecutive month.
Production of motor vehicles and parts rose 2.3 percent in October. Excluding motor vehicles and parts, production rose 0.5 percent in the month.
Output of high-technology industries rose 0.7 percent in October, the Fed reported.
