RTRS: US Oct industrial output rose, Sept revised down
WASHINGTON, Nov 17 (Reuters) - U.S. industrial production rebounded by a stronger-than-expected 1.3 percent in October after a downwardly revised September drop that was the biggest fall in more than 62 years, according to a Federal Reserve report on Monday.
Economists polled by Reuters had expected a rise of 0.2 percent in October, following an initially reported 2.8 percent fall in September.
But the Fed revised the September fall to 3.7 percent -- making it the steepest drop since a 5.0 percent decline in February 1946 as wartime production ended.
The Fed said the revision to September output resulted, in part, from a larger estimate of the impacts that Hurricanes Gustav and Ike had on the chemical industry.
Hurricane-affected facilities began to return to production in October, boosting industrial output for the latest month. But a strike at aircraft maker Boeing Co (BA.N: Quote, Profile, Research, Stock Buzz) hurt industrial output during both September and October, the Fed said.
The 1.3 percent rebound in October output was the sharpest increase since a matching rise in October 1999.
October's manufacturing output rose 0.6 percent after a revised 3.7 percent fall in September, while October mining output rose 6.1 percent after an 8.5 percent fall in September. Utility output rose 0.4 percent in October after a 2.4 percent rise in September. (Reporting by David Lawder; Editing by Andrea Ricci)