The amount of supplies produced for use by those who run construction equipment decreased according to a recent report from the Federal Reserve.
The Fed shows that production of construction supplies dropped 1.2 percent in October after falling by 1.1 percent the month before. When compared to October 2008, production of construction supplies is down 17 percent.
Regarding manufacturing, production fell 0.1 percent after seeing gains of 1.4 and 0.8 percent in August and September, respectively. When compared to the same month in 2008, manufacturing production is down 8 percent. However, machine manufacturing increased 0.2 percent, though it is down by 22 percent when compared to October 2008.
Overall, industrial production increased 0.1 in October after averaging an increase of 0.9 percent during the previous three months. When compared to the same time last year, industrial production is down 7.1 percent in the country.
Meanwhile, the U.S. Department of Labor reports that the Producer Price Index increased 0.3 in October after seeing a 0.6 percent drop in September. However, for finished goods, PPI decreased by 1.9 percent during the month.
MachineFinder was created in 1998. Since then we have served millions of visitors, tens of thousands of pieces of equipment and integrated with our entire dealer network.
MachineFinder, John Deere and the associated trademarks are property and available only for the specific use of Deere & Company. All Rights Reserved. 2008-2013