Data released Wednesday by the US Federal Reserve indicated that industrial production increased 0.7 percent in October after a 0.1 percent drop in September. Production at mines climbed 2.3 percent in October, leading the overall increase in industrial production. Factory output rose 0.5 percent following a 0.3 percent September increase.
October industrial production levels were up 3.9 percent year-on-year, while the average industry capacity utilization rate was 77.8 percent--2.1 percent higher than a year ago.