Summary: US industrial output expands by 1.3% in October, greater than 0.8% expected; up 5.1% over past 12 months rebound “inevitable after Hurricane disruption”; auto production up 11%, manufacturers overcoming raw materials, labour shortages; capacity utilisation rate up 1.2ppt to 76.4%; back above February 2020 figure, still well short of long-term average. The Federal Reserve’s industrial production (IP) index measures real output from manufacturing, mining, electricity and gas company facilities...