Industrial Production Rose 0.2% in November 2025

Washington, DC, December 23, 2025-Industrial production (IP) rose 0.2% in November after ticking down 0.1% in October, according to the Federal Reserve. 

This release includes preliminary estimates for IP and capacity utilization for both October and November as well as revised estimates for May through September.

On average, IP rose 0.1% per month across October and November, the same as the rate of increase in September and a somewhat slower average pace than the past 12 months. Manufacturing output was flat in November after dropping 0.4% in October. There were swings in both mining and utilities output over October and November, though, on net, both sectors posted gains. At 101.8% of its 2017 average, total IP in November was 2.5% above its year-earlier level. Capacity utilization was 76.0% in November, a rate that is 3.5 percentage points below its long-run (1972–2024) average.