US industrial production rises 0.2% in November

By Ovunc Kutlu

ISTANBUL (AA) – US industrial production increased 0.2% in November, compared to the previous month, according to the Federal Reserve data released Friday.

While the market expectation for the figure was to show a 0.3% gain, the October figure was revised to a decline of 0.9% from a 0.6% decrease.

Annually, industrial production was down 0.4% in November, compared to the same month last year, according to the Fed figures.

Manufacturing output, meanwhile, rose 0.3% in November from the previous month.

The market estimate for the figure was to show a 0.4% monthly increase, while the October figure was also revised to a decrease of 0.9% from a 0.7% decline.

Capacity utilization, which indicates overall growth and demand in the economy, moved up 0.1 percentage point to 78.8% in November.

That figure was slightly lower than market estimates of 79.1%, while the October figure was also revised down to 78.7% from 78.9%.