Industrial Production Rose 1.1% in Nov. due to GM Strike Resolution
Washington, DC, December 17, 2019-Industrial production and manufacturing production both rebounded 1.1% in November after declining in October, according to the Federal Reserve.
These sharp November increases were largely due to a bounceback in the output of motor vehicles and parts following the end of a strike at a major manufacturer. Excluding motor vehicles and parts, the indexes for total industrial production and for manufacturing moved up 0.5% and 0.3%, respectively. Mining production edged down 0.2%, while the output of utilities increased 2.9%.
At 109.7% of its 2012 average, total industrial production was 0.8% lower in November than it was a year earlier. Capacity utilization for the industrial sector increased 0.7 percentage point in November to 77.3%, a rate that is 2.5 percentage points below its long-run (1972–2018) average.