US industrial output gains in October despite drop in autos
19 November 2018 AFP, Washington
Auto production and mining slowed sharply in October but not by enough to halt the continued and accelerating output by the US industrial sector, the government reported Friday.
The production gains came despite the impact of back-to-back hurricanes in the past two months that crimped output, according to the Federal Reserve's monthly data, a strong sign for the US economy.
However, economists warn it is increasingly apparent manufacturing has peaked.
Industrial production rose just 0.1 percent last month compared to the prior month, which was well below expectations, while output in September was revised down to a gain of 0.2 percent.
The report said hurricanes dampened output in October and September, trimming about 0.1 percent off production in each month.
But manufacturing remains robust, with an increase of 0.3 percent in the latest month offsetting the less weighty mining and utilities sectors, which declined 0.3 percent and 0.5 percent respectively.
