US industrial production rose 1.6% in October

WASHINGTON (AP) – U.S. industrial production returned in October when carmakers, plagued by supply chain problems, saw a sharp rise and the negative effects of Hurricane Ida disappeared.

Industrial production rose 1.6% last month after a 1.3% dip in September, the Federal Reserve reported on Tuesday.

The weakness in September reflected severe shortages of semiconductor chips, which contributed to a decline in car production and the sustained effects of Hurricane Ida, which disrupted oil and gas production along the Gulf Coast.

In the large industrial groups, production activity increased by 1.2%, while mining, which includes oil and gas production, increased by 4.1%, and production by the country’s utilities increased by 1.2%.

The overall increase of 1.6% in industrial production was better than economists had expected.

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