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Industrial
production edged down 0.1 percent in October after having increased
0.7 percent in September. Expectations
had been for no change. to Manufacturing production rose 0.3 percent in October
for its third consecutive monthly gain. The index for mining fell 1.6 percent
after having risen for six consecutive months, and the output of utilities
dropped 1.1 percent after having jumped 4.5 percent in September. The level of
the index for total industrial production in October was equal to its 2007
average and was 3.2 percent above its year-earlier level. Wood Products and
Paper output both rose by 0.5 percent.
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Capacity
utilization for the industrial sector declined 0.2 percentage point in October
to 78.1 percent, a rate 1.1 percentage points (1.4 percent) above its level of
a year earlier and 2.1 percentage points below its long-run (1972-2012)
average. Wood Products capacity utilization rose by 0.5 percent while Paper
increased by 0.6 percent.
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Capacity
at the all-industries and manufacturing levels moved, respectively, 0.2 and 0.1
percent higher. By contrast, Wood Products remained unchanged while Paper contracted
by 0.1 percent.
The foregoing comments represent the
general economic views and analysis of Delphi Advisors, and are provided solely
for the purpose of information, instruction and discourse. They do not
constitute a solicitation or recommendation regarding any investment.
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