Last week, the Federal Reserve released their monthly read of industrial production and capacity utilization showing an notable pullback in October with total industrial production declining 0.43% since September but rising 1.74% above the level seen in October 2011. Capacity utilization also declined falling 0.57% from September and remaining just 0.24% above the level seen in October of 2011 to stand at 77.79%
It's important to recognize that though the "recovery" is well over two years old, both industrial production and capacity utilization are notably below the peaks set in late 2007.
