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Industrial
production edged down 0.1% in October after having advanced 0.8% in
September. In October, manufacturing output increased 0.2% for the second
consecutive month. The index for mining declined 0.9% and the output of
utilities moved down 0.7%. At 104.9% of its 2007 average, total industrial
production in October was 4.0% above its level of a year earlier. Wood Products
output rose by 0.8% while Paper fell 0.2%.
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Capacity
utilization for the industrial sector decreased 0.3 percentage point in October
to 78.9%, a rate that is 1.2 percentage points below its long-run (1972–2013)
average; Wood Products and Paper rose by, respectively, 0.3 and 0.1%.
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Capacity
at the all-industries and manufacturing levels moved higher by, respectively, 0.3
and 0.2%. Wood Products extended its ongoing upward trend (since July 2013) when
increasing by 0.4%. Paper, on the other hand, contracted by 0.2% to another new
low.
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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