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The Federal Reserve released its industrial production report on Tuesday. The U.S. industrial production fell 0.2% in October, missing expectations for a 0.1% rise, after a 0.2% decline in September.
The drop was mainly driven by a fall in the mining output and utilities. Mining output plunged by 1.5% in October, while utilities production slid 2.5%.
Manufacturing output was up 0.4% in October, after a 0.1% fall in September.
Capacity utilisation rate decreased to 77.5% in October from 77.7% in September, in line with expectations. September's figure was revised up from 77.5%.
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