Industrial output was flat in October as unusually warm weather depressed demand for home and office heating, but the U.S. manufacturing and mining sectors showed continued signs of stabilization.
Industrial production—a measure of output from America’s factories, power plants and mines—was unchanged on a seasonally adjusted basis in October from the prior month, the Federal Reserve said Wednesday. Economists surveyed by The Wall Street Journal had expected a 0.2% increase.
Production fell 0.2% in September, revised down from an initially estimated 0.1% rise. Output had dropped 0.1% in August, revised up from an earlier estimate of a 0.5% decline.
Utilities production dropped sharply in October and September, offsetting modest gains in factory output. Mining production surged last month at the fastest pace in 2½ years.
Total production fell 0.9% over the past year.