Industrial production (IP), was up 0.1% for October, according to Federal Reserve statistics for industrial production and capacity utilization released November 17. The gain was much lower than the 0.9% gains for the July, August and September. Total IP was down 7.1% from the October 2008 level.
Capacity utilization was up a scant 0.2%, but was still “10.2 percentage points below its average for 1972 through 2008,”at 70.7%, according to the announcement.
Comments? Please send them to [email protected]. Kate McBride is editor in chief of Wealth Manager and a member of The Committee for the Fiduciary Standard.