Industrial production dropped 0.1 percent in October after posting a gain of 0.7 percent in September, the U.S. Federal Reserve said Friday.
Production at mines dropped 1.6 percent after six consecutive monthly increases and output at utility companies fell 1.1 percent, after a 4.5 percent surge in August the central bank said.
Manufacturing, the third component in the industrial production index, held its own, rising 0.3 percent in October for its third consecutive gain.
Total production in October was equal to its 2007 average and 3.2 percent above the level of October 2012, the Fed said.
Copyright 2013 United Press International, Inc. (UPI). Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Original headline: U.S. industrial production percent 0.1 percent lower in October
Most Popular Stories
- Major Phone Makers Sign Anti-Phone-Theft Pledge
- College Board Offers a Sneak Peak at New SAT
- 'Beige Book' Federal Reserve Survey, April 2014: Full Text
- Salsa Legend Cheo Feliciano Killed in Car Crash
- Miss. Gov. Signs Bills to Curb Unions
- Google Q1 Earnings Dip as Ad Prices Slip
- Hiring and Weekly Jobless Claims Both Edge Up
- PepsiCo Q1 Profits Rise on Snack Sales, Cost Cuts
- New Auto Plant to Create 155 Jobs in Kentucky
- Poor Barbie Sales Drag on Mattel