United States industrial production increased 1.6% in October, as reported by the Federal Reserve on Tuesday, which represents an improvement after the 1.3% decline in September amid concerns about problems in global supply chains.
Industrial production in the manufacturing sector grew 1.2% in October, while mining production, which includes oil drilling, grew 4.1% in the past month.
The Fed report noted that “almost half of the October rise reflected the recovery from Hurricane Ida,” which caused significant damage in northeast USA.
Pollution plunges New Delhi into toxic fog
Also, the US industrial capacity utilization rate. rose 75.2% in September to 76.4% in October.
However, it is still below the historical average, whose average between 1972 and 2012 was 79.6%.
The data shows a notable improvement, especially in the automotive sector, which went from 85.5% from September to 94.9% in October.
