Industrial production in the US in November grew better than forecast

According to the report of the US Federal Reserve System, industrial production in November increased by 0.4% versus the previous month, when the indicator was noted at the level of 0.9%.

At the same time, the volume of production is still 5% below the pre-crisis level. Analysts polled by Reuters were expecting an increase of 0.3%.

In annual terms, industrial production in November fell by 5.5%, and in October – by 5%.

Manufacturing production in November increased for the seventh month in a row – by 0.8% versus October. The forecasts assumed an increase in the indicator by 0.3%. In the mining industry, production increased by 2.3%, electricity generation decreased by 4.3%.

Capacity utilization in the US increased to 73.3% in November from 73% a month earlier. Analysts on average predicted a decline to 72.9%.