US industrial production falls at faster pace in Nov
The decrease was attributed to lower durable goods production and weak global demand as well as to a stronger dollar. Utility output declined 4.3%, posting the highest decline since March 2007 following a decrease of 2.8% in the previous month while mining production, including oil drilling, slipped 1.1% in November following a drop of 2.4% in October. Oil and gas well drilling was also down 4%.
The data also showed that durable goods production slid 0.2% in November. Motor vehicles and parts production fell 1% while factory output excluding autos and parts posted an increase of 0.1% in November.
Meanwhile, US industrial capacity utilization fell to a two year low of 77% in November from a rate of 77.5% in October.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Asian ABS players turn cautious after recent rally
- July PVC dealt lower in Europe, what lies ahead for August?
- China’s Jan-May total polymer imports hit a record of nearly two decades
- India’s local PVC market soars to 6-month high after customs hike
- China’s export PET market faces correction after rising 10% from two-year-low
- Spot propylene moves in opposite directions in Asia and Europe
- European PS hits year-to-date low on July drops
- Turkey’s PP market on par with China, LLDPE and HDPE trade at discount
- Bearish trend persists in July for PP, PE in Mid-East, Africa
- Vietnam’s PE market sees first hike attempts after two months