Following an October that was hamstrung by impacts from the six-week-long United Auto Workers Union Strike, U.S. factory output posted a modest comeback during November.
Federal Reserve data released Dec. 15 showed that overall manufacturing output increased 0.3% in November month-over-month, with industrial production up 0.2%.
The manufacturing gain was driven by a 7.1% bounceback in motor vehicles and parts production after the UAW strike, which ended with a tentative labor deal signed Oct. 30. The index for manufacturing excluding motor vehicles and parts decreased 0.2%.
Meanwhile, the November output of utilities moved down 0.4% month-to-month and the output of mines increased 0.3%.
Year-over-year, total November industrial production was down 0.4%.
November’s capacity utilization ticked up 0.1 percentage points to 78.8%, a rate that is 0.9 points below its long-run (1972-2022) average.
U.S. Industrial Production: Year-Over-Year
source: tradingeconomics.com
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