Oct industrial production takes an unexpected turn downwards

Washington

INDUSTRIAL production in the United States unexpectedly dropped in October, weighed down by declines at utilities, mines and automakers that signal manufacturing started the fourth quarter on a soft footing.

Output fell 0.1 per cent after a 0.8 per cent increase in September that was smaller than previously estimated, figures from the Federal Reserve in Washington showed on Monday. Factory production rose 0.2 per cent, matching the prior month's advance that was also revised down.

A pick-up in manufacturing is needed to help bolster the expansion, now in its sixth year, as global growth from Europe and Japan to emerging markets cools. Rising consumer confidence and the drop in petrol prices are brightening the outlook for holiday sales, indicating factories will get a lift in the next few m…