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U.S. Industrial Output Falls on Utilities, Mining

CNBC News (11/15/13)

U.S. industrial production declined in October due to a reduction in output at power plants and mines, but manufacturing output rose for the third consecutive month, suggesting the U.S. economy is on a moderate growth trajectory. Industrial output shrank 0.1% last month after rising 0.7% in September, according to the U.S. Federal Reserve. The October decline was the first since July. Economists surveyed by Reuters had forecasted a gain of 0.2%. Manufacturing output rose by 0.3% even though automobile assembly declined for the first time since July.