Wednesday, July 30th20.2°C
21450
22412

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

22563


Recent Trending




Today's Market
S&P TSX15524.82+78.271
S&P CDNX1011.10-5.40
DJIA16880.36-31.75
Nasdaq4462.902+20.204
S&P 5001970.07+0.12
CDN Dollar0.91710.00
Gold1310.00+6.70
Oil99.66-0.61
Lumber328.70+6.40
Natural Gas3.73-0.017

 
Okanagan Companies
Pacific Safety0.1850.00
Knighthawk0.01-0.005
QHR Technologies Inc1.22+0.02
Cantex0.085+0.02
Anavex Life Sciences0.26-0.0075
Metalex Ventures0.08-0.005
Russel Metals35.22-0.07
Copper Mountain Mining2.83-0.03
Colorado Resources0.22-0.005
ReliaBrand Inc0.10+0.019
Sunrise Resources Ltd0.03-0.005
Mission Ready Services0.15-0.005

 



22315

FEATURED Property
2023895Immaculate Home in popular Rose Valley new Mar Jok and Rose Valley schools!
$419,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Take charge of your debt

Photo: Thinkstock.comWays to reduce your Debt:Make a budget and get budget counselingA basic first step for debt reduction is to prepare a budget and plan your spending. Once you have a budget, you mu...


Geopolitical tensions rattle markets

The Big Picture Geopolitical tensions rattle markets The spectre of rising geopolitical tensions in Ukraine and Gaza cast a shadow over an otherwise positive week in the markets. News that a passenger...


Learn to delegate effectively

Photo: ContributedI have the pleasure of witnessing people delegate tasks quite often. Sometimes with tremendous success and sometimes with disastrous consequences. I have chaired a lot of committees...

_








Member of BC Press Council


22097