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Output of US factories held even last monthSkip to next paragraph
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Production at the nation's factories, mines, and utilities was frozen in October at the previous month's level, a further sign that the pace of economic growth has slowed dramatically, the Federal Reserve Board reported Thursday. It said output was unchanged from the September level, when production fell by 0.5 percent to stand at 165.2 percent of the 1967 level of 100.
The decline had broken a string of 21 consecutive monthly advances and was the first setback since November of 1982, the low point of the last recession.