Sandy Sinks Industrial Production

Hurricane Sandy pushed industrial production down in October, with the month showing a 0.4% decrease from September,  according to numbers released today by the Federal Reserve. Click here to open a PDF of the statistical release of the Industrial Production and Capacity Utilization Index.

The Fed estimates that Hurricane Sandy -- which hit the East Coast in late October -- accounted for a nearly 1-percentage-point production drop from September to October. According to the Fed, Hurricane Sandy most drastically reduced output for utilities, chemicals, food, transportation equipment, computers, and electronic products. 

While storm-related effects pushed the manufacturing index down by 0.9%, mine production increased by 1.5%. Compared to last year, October's industrial production was up 1.7%, but at 96.6% of the 2007 average.

The past six months have seen little change in industrial production, with the largest rise (0.7%) occurring in July and the largest fall (1.1%) following in August. In September, production increased 0.2%.

The capacity utilization rate for October came in at 77.8%, a 0.4 percentage-point drop from September, but a 0.2 percentage-point rise from October 2011

Source: Federal Reserve.


Read/Post Comments (0) | Recommend This Article (2)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

DocumentId: 2116977, ~/Articles/ArticleHandler.aspx, 7/29/2014 1:32:35 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement