WASHINGTON — Industrial production fell 0.4% in October, while capacity use slipped to 77.8%, the Federal Reserve reported Friday.
The slight decline in production followed a 0.2% increase in September, originally reported as a 0.4% increase. Capacity use in September was unrevised at 78.3%. Industrial production was up 1.7% from October 2011.
Economists polled by Thomson Reuters expected production to rise 0.2% in October and that capacity use would stand at 78.3%.
Manufacturing output dropped 0.9% in October after a 0.1% dip the previous month. On a year-over-year basis, manufacturing production rose 1.6%.
Utilities fell 0.1% after remaining unchanged the previous month.