There was growth in 15 of 20 industrial sectors, led by increases in manufacturing, finance and insurance and wholesale trade.

The rise in manufacturing was the main reason for the 0.3% increase in goods-producing industries after two monthly declines. Services-producing industries grew 0.3%, their strongest increase since May 2018, on widespread growth across sectors.

The manufacturing sector expanded 0.7% in October, almost fully offsetting the declines in August and September. Both durable (+0.9%) and non-durable (+0.4%) manufacturing increased. The increased output in October partly reflected increased inventories.