US industrial output climbed a healthy 0.9 pct. in October

In this Friday, Oct. 27, 2017, photo, workers assemble Ford trucks at the Ford Kentucky Truck Plant in Louisville, Ky. On Thursday, Nov. 16, 2017, the Federal Reserve reports on U.S. industrial production for October. (AP Photo/Timothy D. Easley)

WASHINGTON — U.S. industrial production jumped a solid 0.9 percent in October as factory activity recovered from the impact of Hurricanes Harvey and Irma.

The Federal Reserve said Thursday that manufacturing activity surged 1.3 percent last month. Many of the gains came from a sharp increase in the production of chemical and petroleum and coal products. Motor vehicles and metals also posted decent gains. But factories are also benefiting from favorable conditions around the world.

"The pick-up in global growth and the weaker dollar have triggered a broader turnaround in the prospects for the manufacturing sector," said Paul Ashworth, chief U.S. economist at Capital Economics.

Mining activity slipped 1.3 percent in October as Hurricane Nate caused a brief decline in oil and gas drilling. Production at utilities rose 2 percent.

Over the past year, industrial production has increased 2.9 percent.

The Fed report is among the many indicators that factories are roaring back in recent months.

Over the past year, manufacturers have added 156,000 jobs. That's the strongest annual growth since the middle of 2015.

Manufacturing hit a rough patch roughly two years ago when a strengthening dollar hurt exports and falling energy prices led to fewer orders for pipeline and equipment. But manufacturing has been steadily rebounding this year amid a stronger global economy.

The Institute for Supply Management, a trade group of purchasing managers, said recently that its manufacturing index dipped to 58.7 in October from a 13-year high 60.8 in September. Anything above 50 signals that U.S. factories are expanding. Manufacturers have reported expansion for the past 14 months.

Must Read

Key figure in Utah political scandal appeals conviction

Sep 28, 2017

A onetime helicopter-flying millionaire who helped launch a pay-to-play scandal involving two former Utah attorneys general asked a federal appeals court Thursday to reverse his conviction for lying to banks to keep his online business afloat

German minister Schaeuble bows out, convictions intact

Oct 9, 2017

Wolfgang Schaeuble, the long-time German finance minister, is attending his final meeting of his peers in the 19-country eurozone.

US new-home sales fell in July, yet still ahead of last year

Aug 23, 2017

US new home sales fell in July yet remain comfortably ahead of last year's pace

People also read these

Key figure in Utah political scandal appeals conviction

Sep 28, 2017

A onetime helicopter-flying millionaire who helped launch a pay-to-play scandal involving two former Utah attorneys general asked a federal appeals court Thursday to reverse his conviction for lying to banks to keep his online business afloat

German minister Schaeuble bows out, convictions intact

Oct 9, 2017

Wolfgang Schaeuble, the long-time German finance minister, is attending his final meeting of his peers in the 19-country eurozone.

US new-home sales fell in July, yet still ahead of last year

Aug 23, 2017

US new home sales fell in July yet remain comfortably ahead of last year's pace