MNI: 5 Things We Learned From Oct Industrial Production Data>

By Sara Haire and Holly Stokes

     WASHINGTON (MNI) - The following are the key points from the 

Industrial Production and Capacity Utilization data for October released 

by the Federal Reserve Thursday: 

     - Industrial production surged to +0.9% vs +0.5% expected in 

October after a rev up +0.4% in Sept, recovering from hurricane hit 

August's rev up 0.5% decline. 

     - Utilities and manufacturing posted healthy storm recovery gains 

of +2.0% and +1.3%, respecvitely. Also as expected, mining posted a 

decline of 1.3% after it's 1.5% rise in September.

     - The Fed stated that more ouptut from oil refineries, 

petrochemical plants, and plastic resin facilities was lost in September 

than in August, lowering September IP. The return of these facilities 

boosted October IP by 0.75pp. 

     - The Fed stated that Hurricane Irma reduced September IP by 

0.05pp, but that this loss was made up in October. But, Hurricane Nate 

caused a short-lived decline in oil and gas drilling which suppressed 

growth by 0.20pp.  

     - Capacity utilization rose to 77.0%, above the 76.3%, after a rev 

up 76.4% in September. 

     ** MNI Washington Bureau: 202-371-2121 ** 

[TOPICS: MAUDS$,M$U$$$,MAUDR$]