Summary: US industrial output up 0.4% in September, above market expectations; up 5.3% over past 12 months; goes against ISM data signal, not expected to persist; capacity utilisation rate up 0.2ppts to 80.3%, slightly above long-term average. The Federal Reserve’s industrial production (IP) index measures real output from manufacturing, mining, electricity and gas company facilities located in the United States. These sectors are thought to be sensitive to consumer demand...