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31-Month High for US Industrial Production in October
US industrial production expanded at the fastest annual rate since March 2015 in October at 2.9%, up from 1.6% in September, the US Census Bureau reports. Production in October was boosted by the return of oil, gas and petrochemical operations in the US Gulf which had previously been disrupted by Hurricane Harvey. Industrial production in the mining sector (which includes oil and gas extraction) expanded by 6.4% in October.