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Industrial Production Increases

Industrial production inched up in November, TeleTrader reports.

What’s going on: “Industrial production in the United States rose by 0.2% in November in comparison to the previous month, the Federal Reserve’s Board of Governors stated in its report published on Friday.”

The details: Manufacturing output increased 0.3% in November but declined 0.8% on an annual basis.

  • Utilities dipped 0.4% and dropped 1% year-on-year.
  • However, mining increased 0.3% last month and 2.3% from the same period last year.

Vehicles rebound: The increase in overall manufacturing output was due largely to a 7.1% bounceback in the production of vehicles and motor vehicle parts following the end of strikes, according to the Federal Reserve’s report.

Capacity utilization: Capacity utilization—the manufacturing and production capabilities being used—rose 0.1 percentage point last month to 78.8%.

  • That’s 0.9 percentage points below the 1972–2022 average but 1.5 percentage higher than during the same period in 2022.
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