Friday, August 22nd17.1°C
21790
22588

Sandy lowers industrial production

Superstorm Sandy depressed U.S. industrial output in October, while production of machinery and equipment declined sharply, reflecting a more cautious outlook among businesses.

The Federal Reserve says industrial output fell 0.4 per cent last month, after a 0.2 per cent gain in September. Excluding the storm's impact, production at the nation's factories, mines and utilities would have been up about 0.6 per cent.

Factory output, the most important component, fell 0.9 per cent. It would have been unchanged without the storm. Machinery production fell 1.9 per cent, while production of electrical equipment, appliances and components declined 1.4 per cent.

Manufacturing has weakened since spring, partly because companies have scaled back purchases of equipment and machinery. Many are worried about tax increases and federal spending cuts that take effect in January unless Congress reaches a budget deal.

The Canadian Press


Read more Business News

22942


Recent Trending




Today's Market
S&P TSX15556.09-5.86
S&P CDNX1002.205.50
DJIA17039.4960.36
Nasdaq4532.104+5.623
S&P 5001992.37+5.86
CDN Dollar0.9139-0.0002
Gold1279.20+5.50
Oil96.30+1.82
Lumber355.60-1.10
Natural Gas3.856-0.033

 
Okanagan Companies
Pacific Safety0.18-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.210.00
Cantex0.065-0.005
Anavex Life Sciences0.260.00
Metalex Ventures0.075-0.01
Russel Metals37.59+0.14
Copper Mountain Mining2.88-0.04
Colorado Resources0.1850.00
ReliaBrand Inc0.095+0.01
Sunrise Resources Ltd0.025-0.005
Mission Ready Services0.215-0.015

 



22671

FEATURED Property
19141144145 Gallaghers Blvd. S
3 bedrooms 3 baths
$999,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Joint accounts: what you need to know!

Establishing a joint account may seem like a great strategy at first glance. However, there are many factors that must be considered before taking this action. This article will explore the use of &ls...


Cost of an Injury Lawyer

Let’s face it; nobody wants to pay for legal services if they do not have to, but if you have been injured in an accident you may have thought about hiring a lawyer to help you navigate your cla...


Managing a business in 40 hours a week

My screen printing business, like many others, started as a one-man operation. It was located in a small building, not much better than a shack, with a telephone, a big table where I ate lunch and (oc...

_



22885

23002


Member of BC Press Council


23002