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Monday, December 15, 2014

Industrial Production Rebounded in November

Industrial Production increased 1.3% in November, after slightly increasing in October. At 106.7 percent of its 2007 average, total industrial production was 5.2% above its level of a year earlier.



Manufacturing output rose 1.1%, and the rates of change for the previous months were revised upward. The capacity rate for manufacturing moved up 0.8 percentage points. Factory output is now estimated to have been above its late-2007 pre-recession peak in both October and November.

Utilities production increased 5.1%, after decreasing 0.7% in October, and the utilization rate increased 3.9 percentage points.

Mining, the only industry group to decline in November, fell 0.1%, and the utilization rate for mines fell 0.8 percentage points.

All indexes for the major market groups increased in November. The 2.5% gain in consumer goods was its largest since August 1998. The output of business equipment and business supplies each rose 1.2%. The production of materials advanced 0.8%.



The capacity utilization rate for the total industry increased 0.8 percentage point in November to 80.1%, a rate equal to its long-run (1972-2013) average.

Read the Federal Reserve release.

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