US industrial production and capacity utilization for October
- industrial production month-to-month for the month of October was weaker than expected at -0.8% versus -0.4% estimate. The prior month was revised higher but remains negative at -0.3% versus -0.4% initially reported
- capacity utilization for the month of October comes in at 76.7 that is well below the 77.0 estimate. The prior month came in at 77.5
- The decline in US factory production fell -0.6% which was the largest drop since April
- utilities -2.6% in October after rising 1.9% in September
- mining -0.7% in October after falling -0.8% in September
- durables -1.2% versus -0.9% last month. None durables -0.8% versus -0.2% last month
- machinery for motor vehicles -7.1% versus -5.5% last month
- automotive products -7.2% versus -4.9% last month
The data may be skewed by the GM strike a bit, but overall weaker than expectations. Looking at the non rounded number of -0.84% on the month, that is the lowest reading since 2009.
