Industrial production fell unexpectedly in October because of Hurricane Sandy, the Federal Reserve reported on Friday, but factory growth appeared at a standstill even aside from the storm.
Production at the nation’s mines, factories and refineries contracted 0.4 percent last month, after a 0.2 percent increase in September, the Fed reported. It said the storm, which hit the East Coast at the end of October, cut output by nearly 1 percentage point. Utilities and producers of chemicals, food, transportation equipment, and computers and electronic products were the most affected, it said.
Source: New York Times. Read full article. (link)