US industrial output takes another drop

The government reported Tuesday industrial output slumped sharply again in October and private economists quickly predicted the nation's near-record unemployment rate would go even higher in the months ahead.

The Federal Reserve Board said the combined output of US factories, mines, and utilities fell 0.8 percent, marking the 13th decline in production in the past 15 months. The jobless rate stands at 10.4 percent, its highest level in 41 years.