Industrial production fell 2.8% in September, far below the estimate of a 0.8% decline and the worst reading in 34 years. Capacity utilization fell from 78.7% to 76.4%, the lowest reading in five years and below the estimate of 77.9%.
The Consumer Price Index was unchanged in September, below the forecast of 0.1%, and the core rate, which excludes food and energy, slowed from 0.2% in August to 0.1%, just shy of the estimate of 0.2%. Year-over-year, the headline rate slowed from 5.4% to 4.9%, and the core rate held at 2.5%.
The Philly Fed’s Business Activity Index fell to -37.5 this month, from 3.8 in September.
Details from Bloomberg...
