US manufacturers showed firm signs of life in October after a mid-year slowdown, but overall industrial output was lower due to the energy sector slump, Federal Reserve data showed Tuesday.
The Fed's industrial production index lost 0.2 points to 107.2, and showed a bare 0.3 percent gain from a year ago.
That was mainly due to the sharp contraction in the oil and coal mining sectors due to the plunge in fuel prices.
Utility sector output was also lower, in part because of a very mild autumn in much of the United States, slowing demand.
But the manufacturing sector, which had been suffering in part from the slowdown in the global economy and the impact on exports from the strong dollar, showed unexpected strength, jumping 0.4 points in the month. That turned into a 1.9 percent gain over the past 12 months.
There was strength last month in automobile output, business supplies and construction materials, all important to stronger overall growth in the US economy.
But another key category, consumer goods, was down slightly in the month, though 3.5 percent higher for the year.
GMT 14:02 2018 Sunday ,02 December
RDIF says $2 billion will be invested in Russian economy from joint Russian-Saudi fundGMT 12:03 2018 Friday ,30 November
Canada on track to sign new free trade deal with US and MexicoGMT 07:59 2018 Wednesday ,21 November
Merkel policies in focus in final debate on draft German budgetGMT 16:57 2018 Wednesday ,31 October
Putin to discuss relations development prospectsGMT 16:04 2018 Monday ,29 October
Russian, Cuban presidents to discuss strategic partnershipGMT 12:57 2018 Saturday ,27 October
"Undeclared war" forces Russia to boost defense spendingGMT 15:45 2018 Friday ,26 October
Medvedev to represent Russia at upcoming APEC summitGMT 14:12 2018 Thursday ,25 October
Saudi Arabia plans to invest in Russian-Chinese Fund soonMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor