U.S. Industrial Production Rises Less Than Expected In November
15 December 2017 - 8:37PM
RTTF2
After reporting a much bigger than expected increase in U.S.
industrial production in the previous month, the Federal Reserve
released a report on Friday showing that production rose by less
than expected in the month of November.
The Fed said industrial production edged up by 0.2 percent in
November after jumping by an upwardly revised 1.2 percent in
October.
Economists had expected production to climb by 0.3 percent
compared to the 0.9 percent increase originally reported for the
previous month.
The uptick in production came as mining output surged up by 2.0
percent in November after falling by 0.6 percent in October, as oil
and gas extraction returned to normal levels after being held down
in October by Hurricane Nate.
However, the rebound in mining output was largely offset by a
pullback in utilities output, which plunged by 1.9 percent in
November after spiking by 2.0 percent in October.
The Fed said total industrial production would have been
unchanged in November excluding the post-hurricane rebound in oil
and gas extraction.
Manufacturing output increased for the third consecutive month,
rising by 0.2 percent in November after shooting up by 1.4 percent
in the previous month.
The report also said capacity utilization inched up to 77.1
percent in November from an unrevised 77.0 percent in October.
Capacity utilization in the mining sector climbed to 84.5
percent and capacity utilization in the manufacturing sector crept
up to 76.4 percent, while capacity utilization in the utilities
sector dropped to 75.7 percent.
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