Factory Output Dips in October

The U.S. industrial operating rate fell to just 79% of capacity in October, reflecting the weakness in American manufacturing, the government reported today.

The Federal Reserve Board said the operating rate at the nation’s factories, mines and utilities was down 0.2 percentage point from where it had stood for the last three months. Some analysts believe that declines in the dollar have finally started to turn the trade deficit around, but they say it will be several more months before American industry will see widespread benefits from lower imports and higher exports.