Oct. industrial output up 0.7%

WASHINGTON (MarketWatch)
The output of the nation's factories, mines and utilities rose 0.7% in October, the Federal Reserve said Wednesday.
The October gain was the biggest since July and was stronger than the 0.4% increase expected by analysts.
However, industrial output in September was revised to a decline of 0.1% compared with the initial estimate of a 0.2% gain.
Factory activity alone rose 0.6% in October after a 0.2% increase in September.
Mining and gas exploration had a strong 2.3% gain in October.
Capacity utilization - a gauge of slack in the economy - rose to 77.8% in October from 77.3% in September.
Capacity utilization has been rising slowly and is at its highest level since July 2008