News Room - Business/Economics

Posted on 16 Dec 2009

US industrial production rises 0.8% in November

US industrial production rose a sharp 0.8 percent in November, regaining momentum after a flat month, Federal Reserve data showed on Tuesday.

 

The report showed output at US factories, mines and utilities was lifted by a 1.1 percent surge in manufacturing, led by gains in automobiles, appliances, home furnishings as well as consumer goods.

 

Mining output jumped 2.1 percent while utility output fell 1.8 percent due to mild weather that reduced demand for heating.

 

Even with the latest rise, industrial production is down 5.1 percent from a year ago, reflecting the deep recession.

 

But the industrial sector has been largely leading the recovery, and the latest month's report points to ongoing strength.

 

Capacity utilisation - a sign of slack in the industrial economy - rose 0.7 percentage points to 71.3 percent. This is a level 9.6 percentage points below the average for the period from 1972 through 2008.