Oct industrial output boosted by post-hurricane rebound

Washington

US industrial output rose more than expected in October as industries affected by a string of recent hurricanes resumed normal operations, the Federal Reserve said on Thursday.

Overall industrial production increased 0.9 per cent following a slightly upwardly revised 0.4 per cent rise in September. Industrial output data for the third quarter were also revised higher, with production declining at a 0.3 per cent annual rate. That compared to the previous estimate of a 1.5 per cent drop.

Economists polled by Reuters had forecast industrial output rising 0.5 per cent in October. The central bank's measure of the industrial sector is comprised of manufacturing, mining, and electric and gas utilities…