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Industrial Production Up 0.6% in November

Industrial production rose 0.6 percent in November after moving down 0.2 percent in October, according to the Federal Reserve. In November, manufacturing production was unchanged, the output of mining increased 1.7 percent and the index for utilities gained 3.3 percent. At 109.4 percent of its 2012 average, total industrial production was 3.9 percent higher in November than it was a year earlier. Capacity utilization for the industrial sector rose 0.4 percent in November to 78.5 percent, a rate that is 1.3 percent below its long-run (1972–2017) average.

Manufacturing output was unchanged in November, as an increase of 0.2 percent for durable manufacturing was offset by decreases of 0.2 percent and 0.9 percent for nondurable manufacturing and other manufacturing (publishing and logging), respectively. Within durable manufacturing, primary metals posted a gain of nearly 2.5 percent; no other major industry group recorded a gain of more than 0.5 percent and several recorded losses. Among nondurables, most major categories posted declines. 

Mining output advanced 1.7 percent in November, with gains in oil and gas extraction, coal mining, and support activities for mining; the index for mining was 13.2 percent above its level of a year earlier. The output of utilities rose 3.3 percent in November, with increases for both electric and gas utilities; natural gas distribution rose sharply in both October and November, as unseasonably cold weather supported demand for heating. 

Capacity utilization for manufacturing edged down in November to 75.7 percent, about 2.5 percent below its long-run average, as a slight rise for durables was outweighed by declines for nondurables and other manufacturing (publishing and logging). The utilization rate for mining increased to 94.1 percent and remained well above its long-run average of 87 percent. The operating rate for utilities moved up to 79.4 percent, a rate that is about 6 percent below its long-run average.


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