Here comes theBush Boom.
WASHINGTON (AP) — Industrial production plunged in October by the largest amount in nine months, reflecting a big drop in utility output and continued troubles in autos and housing-related industries.
The Federal Reserve said that output at the nation’s factories, mines and utilities fell by 0.5 percent last month, a much worse outcome than had been expected.
The October decline, the biggest since a similar drop in January, was led by a sharp plunge in output of electricity and natural gas due to warmer-than-normal weather during the month.