US industrial production up 0.4% in November with auto boost
Martin Crutsinger | Hagadone News Network | UPDATED 4 years, 6 months AGO
WASHINGTON (AP) — U.S. industrial production increased 0.4% in November with manufacturing receiving a boost from a rebound in output at auto plants after three months of declines.
The Federal Reserve reported Tuesday that the November gain in industrial output followed an even stronger 0.9% increase in October. Even with the gains, industrial output is still about 5% below its level in February before the pandemic hit.
Manufacturing was up 0.8% in November, its seventh consecutive monthly gain, with last month's increase boosted by a rebound in auto production. Output in the mining sector, which includes oil and gas production, rose 2.3% while utility output fell 4.3%.
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