U.S. Industrial Production Jumps on Surge in Manufacturing, Utilities

  • 2/5/2023
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Washington, Safar 23, 1436, Dec 15, 2014, SPA -- U.S. industrial production jumped in November by the most in more than four years as factory output surpassed its pre-recession peak and utilities production jumped, the government reported Monday, indicating underlying strength in the economy. The Federal Reserve (Fed) said output at U.S. factories, mines, and utilities rose 1.3 percent last month, the most since May 2010. Industrial production rose 0.1 percent in October. Factory production - the largest component of industrial output - rose a bigger-than-expected 1.1 percent in November, up from a 0.4 percent advance the previous month. Manufacturing output has risen 4.8 percent over the past 12 months and now is above the previous high set before the Great Recession started in late 2007. Mining production fell 0.1 percent last month, while utilities output surged 5.1 percent as cold weather increased demand. Manufacturing showed improvement in most sectors. Strong sales helped increase auto production 5.1 percent in November. Motor vehicles sold last month at an annualized pace of 17.2 million, a 4.6 percent increase from the previous year. The amount of manufacturing capacity in use rose to 78.4 percent in November from 77.6 percent the previous month, the Fed said. Overall industrial capacity use increased to 80.1 percent, the highest since March 2008, from 79.3 percent in October. --SPA 19:21 LOCAL TIME 16:21 GMT www.spa.gov.sa/w

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