SILVER SPRING, Md. — U.S. industrial production rose 1.1% in October, recovering much of the spring decline caused by the virus pandemic.
Production rebounded after a downturn in September, but still remains below pre-pandemic levels, the Federal Reserve reported today.
A key category that reflects manufacturing output rose 1%.
In October, industry operated at 72.8% of capacity, down from a reading of 77% of capacity a year ago.
September’s number was revised upward from -0.6% to -0.4%.