Oct. industrial output up 0.7%

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Oct. industrial output up 0.7% (by Greg Robb)

WASHINGTON (MarketWatch) - The output of the nation's factories, mines and utilities rose 0.7% in October, the Federal Reserve said Wednesday. The October gain was the biggest since July and was stronger than the 0.4% increase expected by analysts. However, industrial output in September was revised to a decline of 0.1% compared with the initial estimate of a 0.2% gain. Factory activity alone rose 0.6% in October after a 0.2% increase in September. Mining and gas exploration had a strong 2.3% gain in October. Capacity utilization - a gauge of slack in the economy - rose to 77.8% in October from 77.3% in September. Capacity utilization has been rising slowly and is at its highest level since July 2008.

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