US industrial production growth stumbles in November

According to the data from US Federal Reserve, the country’s industrial production was slightly up by 0.2% in November month-on-month from a revised increase of 1.2% in October, slowing on a monthly basis and falling below the economists’ forecast of a 0.3% increase.

The data showed that the increase was mainly driven by the upsurge in mining output at 2% in November after a decrease of 0.6% in October. However, the country’s utilities output fell by 1.9% in November from an increase of 2% in the previous month.

The data also showed that the manufacturing output rose for the third consecutive month by 0.2% in November while the capacity utilization edged up to 77.1%.