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xchrom

(108,903 posts)
21. Industrial Production in U.S. Probably Expanded at Slower Pace
Fri Nov 16, 2012, 09:33 AM
Nov 2012
http://www.bloomberg.com/news/2012-11-16/industrial-production-in-u-s-probably-expanded-at-slower-pace.html

Industrial production in the U.S. probably cooled in October as superstorm Sandy knocked out power for utility customers in the Northeast, economists said before a report today.

Output at manufacturers, mines and utilities rose 0.2 percent after a 0.4 percent increase in September, according to the median projection of 84 economists surveyed by Bloomberg before the Federal Reserve’s report. Production at factories may have also climbed 0.2 percent.

American manufacturers, a source of strength for much of the three-year expansion, face a persistent challenge from Europe’s recession and slower growth in Asia. A further cutback in capital spending by companies concerned about the possibility of $607 billion in automatic tax increases and spending cuts next year represents another hurdle for the industry.

“Manufacturing is soft,” said Guy Berger, an economist at RBS Securities Inc. in Stamford, Connecticut, whose forecast matched the median. “The economy’s moving along at a pace that’s generally disappointing.”
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