Industrial Production Rises 1.1% in November

More good economic news. Last month, industrial production rose by the most in two years.

Output at factories, mines and utilities increased 1.1 percent last month after a revised 0.7 percent drop in October that was more than initially estimated, the Federal Reserve reported today in Washington. Economists forecast a 0.3 percent advance, according to the Bloomberg survey median. Manufacturing, about 75 percent of production, surged 1.1 percent in November, the most this year.

Further gains in manufacturing, which has stumbled in the second half of the year, would help the expansion build on the recent pickup in housing and sustained consumer spending. At the same time, the industry faces the hurdles of slower global economies and a lack of clarity on the U.S. budget that has prompted companies to hold back on investment.

Posted by on December 14th, 2012 at 10:01 am


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