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In The News:

November Industrial Production Passes Pre-Recession Peak

In November, industrial production surpassed  its pre-recession peak of December 2007 for the first time and was 21 percent above its trough of June 2009, according to the Federal Reserve. At 101.3 percent of its 2007 average, total industrial production in November was 3.2 percent above its year-earlier level.

Industrial production increased 1.1 percent in November after having edged up 0.1 percent in October, according to the Federal Reserve. The November gain in November was the largest since November 2012, when production rose 1.3 percent. October output was previously reported to have declined 0.1 percent.

Manufacturing output increased 0.6 percent in November for its fourth consecutive monthly gain. Production at mines advanced 1.7 percent to more than reverse a decline of 1.5 percent in October. The index for utilities was up 3.9 percent in November, as colder-than-average temperatures boosted demand for heating.

Capacity utilization for the industrial sector increased 0.8 percentage point in November to 79 percent, a rate 1.2 percentage points below its long-run (1972-2012) average.

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