The 2020 Mid-Year Economic Update_long

Industrial Production Bounces Back Post-Sandy

Production increased 1.1 percent in November after falling 0.7 percent in October.

Industrial production increased 1.1 percent in November after falling 0.7 percent in October, according to the Federal Reserve. The gain in November is estimated to have largely resulted from a recovery in production for industries that were negatively affected by Hurricane Sandy, which hit the Northeast region in late October.

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Manufacturing output in November increased 1.1 percent after having decreased 1 percent in October. In addition to the storm-related rebound, a sizable rise in the production of motor vehicles and parts boosted factory output in November. The output of utilities advanced 1 percent, and production at mines rose 0.8 percent.

At 97.5 percent of its 2007 average, total industrial production in November was 2.5 percent above its year-earlier level. Capacity utilization for total industry increased 0.7 percentage point to 78.4 percent, a rate 1.9 percentage points below its long-run (1972–2011) average.

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