WASHINGTON — U.S. industrial production climbed 0.6 per cent on surging output at mines and utilities. But manufacturing production was flat.The Federal Reserve says that utility output rose 3.3 per cent as power companies were busier because of unusually cold weather. Mining output rose 1.
Source: business.financialpost.com
U.S. industrial production climbed by 0.6% in November beating consensus estimates of 0.3% growth as per the Federal Reserve. The rise is attributed to a spike in utility output, which increased by 3.3% in November after rising by 0.2% in October. Mining output also showed a significant 1.7% jump in November after falling by 0.7% in October. Manufacturing output was unchanged after edging down by 0.1% in the previous month. The industrial production data for October was revised to show a 0.2% drop compared to the previously reported 0.1% increase.
