US industrial production rebounded 1.6% in October
WASHINGTON (AP) - U.S. industrial production rebounded in October as automakers, stung by supply chain problems, posted a strong increase and the adverse effects from Hurricane Ida faded.
Industrial production rose 1.6% last month after a 1.3% plunge in September, the Federal Reserve reported Tuesday.
The September weakness reflected severe shortages of semiconductor chips that contributed to a fall in auto production and the lingering impacts of Hurricane Ida which disrupted oil and gas production along the Gulf Coast.
In the major industry groups, manufacturing activity rose 1.2% while mining, which includes oil and gas production, surged 4.1% and output at the nation's utilities was up 1.2%.
The overall 1.6% increase in industrial output was better than economists had been expecting.
FILE - A pair of unsold 2021 sports-utility vehicles-Outback at left, Forester on right- sit in an otherwise empty storage lot at a Subaru dealership in Littleton, Colo., in this Sunday, Sept. 12, 2021, file photo. U.S. industrial production fell 1.3% in September, the Federal Reserve reported Monday, Oct. 18, 2021. Manufacturing output fell 0.7%, dragged down by a 7.2% decline in motor vehicles and parts as shortages of semiconductors continued to thwart the industry. (AP Photo/David Zalubowski, File)
