U.S. industrial production was weak in October

U.S. industrial production was flat in October, which was a weaker showing than economists expected, according to www.msnbc.com.

Economists expected a gain of 0.3 percent following a 0.2 percent decline in September. Although manufacturing increased 0.5 percent, utilities output fell 3.4 percent because unseasonably warm temperatures reduced heating demand.

The capacity utilization rate, which is a measure of slack in the economy, was flat at 74.8 percent.

The October figures indicate the economy is recovering at a pace too slow to significantly affect the U.S. unemployment rate.

Date : 11/17/2010