October U.S. Industrial Output Down 0.6% on Auto Strikes - Modern Distribution Management

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October U.S. Industrial Output Down 0.6% on Auto Strikes

Factory output matched its largest one-month decline since June.
Yelabuga, Russia - May 12, 2014: assembly line vehicles Ford Sollers plant in the special economic zone "Alabuga"

U.S. industrial production declined by 0.6% in October vs. September, according to the Federal Reserve’s Industrial Production and Capacity Utilization report, issued Nov. 16. Manufacturing output fell 0.7%, matching its biggest one-month decline since June.

The Fed said much of the October decline was driven by a 10% drop in the output of motor vehicles and parts that stemmed from the United Auto Workers’ union’s six-week strike at the nation’s three largest automotive makers. Excluding those categories, manufacturing output ticked up 0.1% from September.

The report’s index for utilities decreased 1.6% month-to-month, and the output of mines increased 0.4%.

Meanwhile, industrial capacity utilization moved won 0.6 percentage points to 78.9% in October — a rate that is 0.8 points below its long-run (1972-2022) average.

Year-over-year, total October industrial production was down 0.7%.

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