Economy
US Production and Capacity Utilization Rise in November
Written by Sandy Williams
December 16, 2013
U.S. industrial production jumped 1.1 percent in November after inching up a revised 0.1 percent in October, according to information released by the Federal Reserve Board on Dec. 16. Manufacturing output increased 0.6 percent for its fourth consecutive monthly gain.
Utilities saw a surge of 3.9 percent as winter weather boosted demand for heating. Automobile vehicle and parts production increased 3.4 percent after sliding 1.3 percent in October. Durable goods were up by 0.8 percent for the month. Mining production turned around in November, advancing 1.7 percent after a decline of 1.5 percent in October. Declines of 0.2 percent were seen for primary metals, machinery, computers and electronic products, aerospace and miscellaneous transportation equipment. Wood products, fabricated metals and appliances were up 1 percent or more.
Total industrial production climbed 3.2 percent year-over-year, surpassing its prerecession peak of December 2007 and climbing 21 percent from its lowest point in June 2009.
Capacity utilization for the industrial sector was 79.0 percent, an increase of 0.8 percent from the preceding month and 1.8 percent year-over-year. The jump exceeded analyst expectations of 78.4 percent.
Overall, the statistics indicate a healthy month for industrial production in November.
Sandy Williams
Read more from Sandy WilliamsLatest in Economy
ISM: US manufacturing poised for growth in 2025
“Manufacturers are optimistic,” said Timothy R. Fiore, chair of ISM’s Manufacturing Business Survey Committee.
New York state manufacturing activity stable in December
Following a substantial recovery in November, business activity in New York state’s manufacturing sector held steady in December, according to the latest Empire State Manufacturing Survey from the Federal Reserve Bank of New York.
Ternium chief say Mexico tariffs ‘irrational’
Vedoya said the proposed tariffs are "an irrational measure that would harm both their own industry and ours."
Slowing data center, warehouse planning drives decline in Dodge index
The Dodge Momentum Index (DMI) slid further in November as planning for data centers and warehouses continued to decline.
Beige Book shows some positive economic activity
Still, many businesses noted increased sensitivity to prices and quality among customers.