Keeping you up to date on the latest data releases.
- Industrial Production
Industrial production rose 0.4 percent (nonannualized) in November, more than rebounding from a downwardly revised −0.2 percent in October (though on net prior revisions left the level of industrial production in October largely unchanged). The annualized growth rate in industrial production over the past six months is 2.9 percent, a little below its longer-term (12-month) trend of 5.4 percent. Manufacturing output rose 0.3 percent in November, though that was partially depressed by a relatively large 6.0 percent decline in motor vehicles and parts production. Excluding the auto sector, manufacturing output jumped up 0.7 percent during the month, and is up 5.4 percent over the past year. Mining output ticked down 0.1 percent in November, following a 0.2 percent decline in October, but those decreases came on the heels of a nearly 20 percent annualized growth rate over the previous three months. Utilities output rose 1.9 percent during the month, its first increase in four months. Overall capacity utilization firmed up a little, rising from 74.9 percent in October to 75.2 percent in November, October; and the factory operating rate increased 0.2 percentage point to 72.8 percent in November.