Industrial Production in U.S. Drops 0.4% on Sandy Effect
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Industrial production unexpectedly fell in October as superstorm Sandy disrupted output of goods from food to chemicals, adding to the woes of companies contending with cooling global demand.
Production at factories, mines and utilities dropped 0.4 percent after a revised 0.2 percent increase in September that was smaller than previously estimated, Federal Reserve data showed today in Washington. Economists projected a 0.2 percent gain, according to the median forecast in a Bloomberg survey.