U.S. Factory Production Expands for Fifth Consecutive Month

U.S. factory production expanded in October for a fifth straight month, the longest streak since 2011 and indicating a solid start to the fourth quarter, Federal Reserve data showed Friday.

Manufacturing output rose 0.3 percent after an upwardly revised 0.3 percent gain in the prior month. Economists had projected a median increase of 0.2 percent. Total industrial production, which also includes mining and utilities, increased a below-forecast 0.1 percent, reflecting declines in those sectors.