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U.S. industrial production rises 0.7 percent in October


15:02, November 17, 2011

WASHINGTON, Nov. 16 (Xinhua) -- U.S. industrial production advanced 0.7 percent in October, boosted by the expansion of manufacturing and mining sectors, the Federal Reserve reported on Wednesday.

The October increase in industrial production, an indicator of the output of mines, factories and utilities, followed a revised 0. 1 percent drop in September.

Manufacturing output, the largest component of the overall industrial production, rose 0.5 percent last month after a 0.3 increase in September. The manufacturing industry has shown strong performance since the U.S. economy began to recover from the recession more than two years ago.

Outside manufacturing, the output of mines gained 2.3 percent in October, but the output of utilities decreased 0.1 percent.

The report also showed that overall industrial capacity utilization -- a key measure of slack in the industrial economy -- rose slightly to 77.8 percent in October, 0.5 percentage point higher than the previous month, but was still 2.6 percentage points below its average from 1972 to 2010.

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