the numbers industrial production fell 01 in october the federal reserve reported wednesday the gain was below wall street expectations of a 01 gain according to a survey by the wall street journal output in september was trimmed to a slight 01 gain from the initial estimate of a 04 gain capacity utilization dipped to 799 in october from 801 in the prior month the capacity utilization rate reflects the limits to operating the nation’s factories mines and utilities key details manufacturing output edged up 01 in october and increases in july august and september were all lower than previous estimates motor vehicles and parts output rose 2 after a 04 gain in the prior month excluding autos total industrial output fell 02 utilities output fell 15 in october after a 17 drop in the prior month mining output which includes oil and natural gas fell 04 after a 07 gain in the prior month big picture manufacturing has been softening in recent months the manufacturing ism index fell to 502 in october the lowest level since may 2020 export orders are soft in part because of the stronger dollar but domestic demand is also cooling “overall manufacturing is close to stagnation” said paul ashworth chief north american economist at capital economics looking ahead “weakening demand higher interest rates and supply chain difficulties will continue to pose challenges for industrial activity in the months ahead” said nancy vanden houten lead us economist at oxford economics market reaction stocks djia spx opened lower wednesday the yield on the 10year treasury note tmubmusd10y fell to 372