Industrial Production Rose 0.2% in November

Washington, DC, December 15, 2023-In November, industrial production increased 0.2%, and manufacturing output rose 0.3%, reports the Federal Reserve. 

The increase in manufacturing output was more than accounted for by a 7.1% bounceback in motor vehicles and parts production following the resolution of strikes at several major automakers. The index for manufacturing excluding motor vehicles and parts decreased 0.2%. The output of utilities moved down 0.4%, and the output of mines moved up 0.3%. Total industrial production in November was 0.4% below its year-earlier level. Capacity utilization moved up 0.1 percentage point to 78.8% in November, a rate that is 0.9 percentage point below its long-run (1972–2022) average.