U.S. factory output down almost 1% in October

11/19/2012 | Washington Post, The

Superstorm Sandy and fears of a budget crisis caused factory output to fall by 0.9% in October compared with the previous month, according to the Federal Reserve. Without the damaging storm, production would have remained flat, the Federal Reserve said. Experts say the drop is due in part to companies' cutting down on the purchasing of goods in the face of possible budget cuts and tax increases.

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