US manufacturing output up in October
U.S. manufacturing output rose in October for the first time in three months as factories cranked out more steel, cars and computers.
The Federal Reserve says that manufacturing production increased 0.4 percent last month, after slipping 0.1 percent in September.
The rise suggests that manufacturers may be overcoming several headwinds they have faced for most of this year. Many retailers and wholesalers have been cutting back on their stockpiles after ordering too many goods this winter. That has weighed on output. And the strong dollar has cut into exports by making U.S. goods more expensive overseas.
The gains were widespread across many sectors, including machinery, electrical equipment, and textiles.