US Economics_ Production subdued even with temporary drag

15 Nov 2024 10:16:00 ET │ 9 pages US Economics Production subdued even with temporary drag CITI'S TAKE Industrial production fell 0.3%MoM in October with a 0.5% decline in the largest subset of manufacturing production. The Federal Reserve (which produces IP data) indicated a 0.3pp drag from strikes and hurricanes during the month. These factors should rebound and boost IP in November, but the underlying trend of manufacturing activity remains subdued even without these temporary factors and the near-term o ...