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Manufacturing Production Rebounded in October, Rising 1.2%
- After pulling back in August and September on supply chain disruptions, manufacturing production rebounded in October, rising 1.2%. Output in the auto sector, which has been challenged by the chip shortage and supply chain issues, bounced back 11.0% in October after falling 3.0% and 7.1% in August and September, respectively.
- Manufacturing capacity utilization jumped from 75.8% in September to 76.7% in October, the strongest since January 2019. Overall, manufacturing production has risen 4.5% year-over-year, with a 1.2% increase relative to February 2020’s pre-pandemic pace.
- Looking at manufacturing sectors with the largest production gains year to date, the aerospace and miscellaneous transportation equipment sector had the largest gains (up 11.7%). The standout on the below chart, however, is computer and electronic products (up 8.8% year to date, or 32.9% since the beginning of 2015).
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