U.S. Industrial Output Increases, Global Markets Reflect Losses

U.S. industrial output increased in October, as cited in a Federal Reserve report this morning. Factory output - including mines and utilities - increased 0.7%, while capacity utilization increased to nearly 78%. U.S. exports are growing (assisted by a cheaper U.S. dollar), cost of living fell (the CPI decreased .1%), Corporate spending on equipment and software increased at a rate of more than 17.4% - a good indication that equipment and technology acquisitions is underway. 

In Italy, 10 year bond yields fell as did the cost of credit default swaps; PM-designate Mario Monti is focusing on a new Cabinet (expected to be announced today).

Global equity markets reflect valuation losses, attributable to the continued EU sovereign debt uncertainty. U.S. markets today are ignoring today's positive U.S. economic news as well.

Timothy Speiss is the Partner-in-Charge of EisnerAmper's Personal Wealth Advisors Group and Vice President of EisnerAmper Wealth Planning LLC. He chairs our Asia Practice and is a member of the firm’s community service group, EisnerAmper Cares.

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