US industrial production falls 0.2% in November

By Ovunc Kutlu

ISTANBUL (AA) – US industrial production fell 0.2% in November despite estimates of an increase, according to the Federal Reserve data.

The expectation was for a gain of 0.1% for November after a 0.1% decline in October.

Manufacturing output also declined 0.6% in November, but remained 1.2% above its year-earlier level, the Fed said on Thursday.

"Decreases of 0.6 percent for manufacturing and 0.7 percent for mining were partly offset by a rebound of 3.6 percent for utilities following three months of declines," it said in a statement.

Manufacturing output in November also missed the expectations of a 0.1% decline. It was up 0.3% in October.

Capacity utilization, which indicates overall growth and demand in the economy, fell 0.2 percentage point to 79.7% in November.

The figure, which is an indicator of overall growth and demand in the economy, was slightly below projections of 79.8%. It stood at 79.9% in October.​​​​​​​