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Economy in Brief

Industrial Production Firm
by Tom Moeller November 17, 2004

Industrial production rose a firm 0.7% following a downwardly revised 0.1% rise the prior month. Consensus expectations had been for a 0.4% increase in October.

Production in the factory sector jumped 0.8% (6.0% y/y) after the unrevised 0.3% decline the prior month.

Motor vehicles output recovered 2.3% (2.8% y/y) following the prior month's decline. Furniture output also recovered 0.9% (2.0% y/y) after two down months and textile output rose 0.8% (-2.2% y/y). High tech sector output again was firm with a 0.9% (18.8% y/y) rise.

Factory sector output excluding motor vehicles & high tech rose 0.5% (+5.3% y/y).

Total capacity utilization rose to 77.7% as capacity grew 1.5% y/y.

Production & Capacity Oct Sept Y/Y 2003 2002 2001
Industrial Production 0.7% 0.1% 5.2% 0.3% -0.6% -3.4%
Capacity Utilization 77.7% 77.3% 75.0%(11/03) 74.8% 75.6% 77.4%
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