Financial News: U.S. Industrial Production Decreases In Line With Estimate

U.S. Industrial Production Decreases In Line With Estimates In October

11/15/2024 - 09:25:00 (RTTNews)

(RTTNews) - With the effects of recent hurricanes and the strike at Boeing (BA) continuing to weigh on growth, the Federal Reserve released a report on Friday showing U.S. industrial production decreased in line with economist estimates in the month of October.

The report said industrial production fell by 0.3 percent in October after sliding by a downwardly revised 0.5 percent in September.

Economists had expected industrial production to dip by 0.3 percent, matching the decline originally reported for the previous month.

The Fed said the Boeing strike held down industrial production growth by an estimated 0.2 percentage points in October, while Hurricane Milton and the lingering effects of Hurricane Helene together reduced growth by 0.1 percentage point.

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