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Section: Business News - U.S. industrial production rose by 1.3 percent in October, far more than the 0.2 percent gain expected by analysts, the Federal Reserve reported Monday.
The bigger-than-expected advance in overall industrial production, an indicator of the output of mines, factories and utilities, followed a plunge in the previous month.
The revised data showed that the industrial production in September fell by 3.7 percent, the biggest one-month drop since a 5 percent decrease in February 1946. That was worse than the 2.8 percent drop originally estimated.
The fallout from hurricanes Gustav and Ike was bigger than initially thought, …