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Industrial Production Creeps Up

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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.