Keeping you up to date on the latest data releases.
- Industrial Production
Industrial production edged down 0.2 percent (nonannualized) in November, after jumping up 0.7 percent in October. On a year-over-year basis, overall production is up 3.7 percent. Manufacturing production fell 0.4 percent in November, almost completely reversing its 0.5 percent gain in October. Some of the manufacturing weakness was tied to auto production—which plummeted 3.4 percent during the month. However, even after excluding the auto sector, manufacturing production still fell 0.2 percent. Both durable and nondurable manufacturing output slipped in November. The manufacturing sector as a whole is up 3.8 percent over the past year. Outside manufacturing, mining production posted its ninth straight monthly gain, ticking up 0.1 percent in November, helping to push its 12-month growth rate up to 6.7 percent. Electric and gas utilities output slipped down 0.7 percent in November, nearly reversing an upwardly revised 0.8 percent increase in October. Capacity utilization declined by 0.2 percentage points to 77.8 percent in November but is still more than 10 percentage points above its recent cyclical low of 67.3 percent in June 2009.