US industrial production falls in Nov
Manufacturing output was down by 0.1% in November after the increases in the previous two months. The decrease was driven by the decline in production of long lasting durable goods, mainly motor vehicles and parts. However, manufacturing output increased by 0.1% year-on-year.
Utilities also dropped by 4.4% in November. This was caused by the fact that the unexpectedly warm weather decreased the demand for heating.
As an indicator of how much production is utilized, industrial capacity was at 75% in November, matching the expectations of 75.1%. However it was up by 0.4% on an annual basis.
Meanwhile, the mining sector showed more signs of stabilizing with a monthly increase of 1.1% in November after an increase of 1.9% in October.
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