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US Industrial Production Rebounded 1.6% In October

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FILE - In this March 24, 2021 file photo, mid-sized pickup trucks and full-size vans are seen in a parking lot outside a General Motors assembly plant where they are produced in Wentzville, Mo. The global shortage of computer chips is getting worse, forcing automakers to temporarily close factories including those that build popular pickup trucks. General Motors announced Thursday, Sept, 2, 2021 that it would pause production at seven North American plants during the next two weeks, including two that make the company’s top-selling Chevrolet Silverado pickup. (AP Photo/Jeff Roberson, File)

(AP) — U.S. industrial production rebounded in October as auto production, which has been hurt by supply chain problems, posted a strong increase and the adverse effects from Hurricane Ida faded. The Federal Reserve reported Tuesday that industrial production rose 1.6% last month after having plunged 1.3% in September. The September weakness reflected severe shortages of semiconductor chips that contributed to a fall in auto production and the lingering impacts of Hurricane Ida which disrupted oil and gas production along the Gulf Coast.

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