US Industry, October 2023 Industrial Production.

US, October industrial production -0.6% m/m, manufacturing -0.7%.

Industrial production in the United States was worse than expected and, in October 2023, recorded a negative variation of 0.6% on a monthly basis, after the variation of +0.1% in the previous month (data revised from a preliminary estimate of + 0.3%) and compared to the -0.3% expected by analysts.

On an annual basis there was a decrease of 0.7%.

Manufacturing production recorded a decline of 0.7% (-0.3% consensus expectations) which compares with + 0.2% in September (data revised from a preliminary of + 0.4%).

Over the same period, capacity utilization relative to all industrial sectors decreased to 78.9%, lower than analysts’ estimates (79.4%) from 79.5% previously.

Source Teleborsa