Industrial Production Inched Up 0.2% in November

Washington, DC, December 15, 2017-Industrial production moved up 0.2% in November after posting an upwardly revised increase of 1.2% in October, according to the Federal Reserve.

Manufacturing production also rose 0.2% in November, its third consecutive monthly gain.

The output of utilities dropped 1.9%.

The index for mining increased 2.0%, as oil and gas extraction returned to normal levels after being held down in October by Hurricane Nate.

Excluding the post-hurricane rebound in oil and gas extraction, total industrial production would have been unchanged in November.

Total industrial production was 106.4% of its 2012 average in November and was 3.4% above its year-earlier level. Capacity utilization for the industrial sector was 77.1% in November, a rate that is 2.8 percentage points below its long-run (1972–2016) average.