Friday, June 21, 2024

US industrial production jumps 1.1% in October

by Associated Press

SILVER SPRING, Md. (AP) — U.S. industrial production rose 1.1% in October, recovering much of the spring decline caused by the virus pandemic.

Production rebounded after a downturn in September, but still remains below pre-pandemic levels, the Federal Reserve reported Tuesday.

A key category that reflects manufacturing output rose 1%.

In October, industry operated at 72.8% of capacity, down from a reading of 77% of capacity a year ago.

September’s number was revised upward from -0.6% to -0.4%.

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