हामी सबैकाे संसारन्यूज

17 Nov, WASHINGTON-Auto production and mining slowed sharply in October but not by enough to halt the continued and accelerating output by the US industrial sector, the government reported Friday.
The production gains came despite the impact of back-to-back hurricanes in the past two months that crimped output, according to the Federal Reserve’s monthly data, a strong sign for the US economy.
Industrial production rose just 0.1 percent last month compared to the prior month, which was well below expectations, while output in September was revised down to a gain of 0.2 percent.
The report said hurricanes dampened output in October and September, trimming about 0.1 percent off the gains in each month.
But manufacturing remains robust, with an increase of 0.3 percent in the latest month offsetting the less weighty mining and utilities sectors, which declined 0.3 percent and 0.5 percent, respectively.
That fifth consecutive manufacturing gain came despite a 4.6 percent plunge in motor vehicle production, which reversed the rise in September.
Excluding that decline in autos, as well as the drop in auto parts, manufacturing output would have increased 0.5 percent.
The strong showing is a boost to the US economy, as overall output is up 4.1 percent compared to October 2017.
In addition, the annual pace in the third quarter accelerated to 4.7 percent, faster than previously reported due to a stronger estimate of crude oil extraction in August, Fed officials told AFP, which doubled the reported total gain in industrial production that month.
The Fed said overall mining output had gained 24 percent since its low point in 2016 and 13 percent since October 2017, driven by oil and gas, even as drilling had declined in the last two months.
Meanwhile, industrial capacity in use gain three-tenths 78.4 percent, which is up from a year earlier but 2.1 points below its long-run average, the report said.