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U.S. Industrial Output Rebounds for October

Industrial production in the United States rose by 1.3 percent for the month of October, according to the U.S. Federal Reserve. The increase can be attributed to a return to normal operations at chemical plants, oil refineries, and drilling platforms along the Gulf Coast, and to the end of the strike against aircraft manufacturer Boeing Company. The September numbers had plummeted by the largest amount in 60 years largely as a result of Hurricanes Gustav and Ike and the Boeing work stoppage. The October figure, the largest monthly increase in nine years, far surpassed the average industry prediction of 0.2 percent. The 1.3 percent increase is still down 4.1 percent over October 2007.

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