During October… growth in demand for factory production in America

A report issued by the US Department of Commerce on Wednesday showed that demand for factory production grew slightly during last October, which was in line with estimates.
The report stated that demand for factory production increased by 0.2% during October after declining by 0.2% during September, according to revised data.
Analysts had expected demand to rise by 0.2% after falling by 0.5% in September. According to preliminary data, the slight increase in industrial demand came as demand for durable goods rose by 0.5%.

Demand for goods

While non-durables rose by 0.1% during the first October.
At the same time, the report stated that deliveries of manufactured goods fell by 0.2% in October after falling by 0.4% in September.
The inventory of manufactured goods also decreased by 0.1% after declining by 0.3% during the same period.

Oil stocks decline

The US Energy Information Administration announced on Wednesday that crude oil stocks in the United States declined slightly last week.
The administration stated that crude oil stocks declined by 5.1 million barrels during the week ending last November 29, which was less than the expectations of analysts who expected a decline by only one million barrels, after a decline of 1.8 million barrels in the previous week.

423.4 million barrels

With the significant decline, US reserves at the end of last week were 423.4 million barrels, approximately 5% less than the average inventory over the past five years at this time of the year.
The administration also stated that gasoline stocks rose by 2.4 million barrels last week, approximately 4% less than the average stock over the past five years.
The stock of refined oil, which includes heating oil and diesel, rose by 3.4 barrels, becoming approximately 5% less than its average over the past five years at this time of the year.