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.