Keeping you up to date on the latest data releases.
- Industrial Production
Industrial production increased 1.1 percent (nonannualized) in November, following a decline of 0.7 percent in October. November’s increase is largely due to the return from production interruptions stemming from Hurricane Sandy. The near-term trend (three-month annualized growth) returned to positive territory, 2.1 percent, however production levels continued to slow following a strong first quarter. On a year-over-year basis, overall production is up 2.5 percent. Manufacturing production rose 1.2 percent in November, while the three-month annualized growth rate increased 0.9 percent. Breaking down the manufacturing sector, durable and nondurable goods increased 1.6 percent and 0.6 percent, respectively. Within durable goods manufacturing, wood products, primary metals, electrical equipment, appliances and components, and motor vehicles and parts all posted increases greater than 2.0 percent in November. Overall capacity utilization jumped 0.7 percentage points to 78.4 percent of capacity.