Hurricane Sandy lowers factory output in October

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Hurricane Sandy lowers factory output in October (by Greg Robb)

WASHINGTON (MarketWatch) - The output of the nation's factories, mines and utilities fell unexpectedly in October as Hurricane Sandy held down production in the Northeast, the Federal Reserve said Friday. Production fell 0.4% in October, the Fed said. The hurricane reduced total output by nearly 1%, the central bank estimated. October's results were well below Wall Street's expectations of a 0.2% increase. September production was revised down to a 0.2% increase from the initial estimate of a 0.4% gain.

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