Industrial output in the US increased in November as the US economy continues to gain strength heading into the new year. Output at factories, mines and utilities climbed 0.8 percent, after no change in October, the Federal Reserve said today in Washington. Manufacturing and mining rose, while warmer weather restrained utility demand. Capacity utilization, which measures the proportion of plants in use, increased.
Ã¢â‚¬Å“WeÃ¢â‚¬â„¢ll continue to see growth in manufacturing output, given strong exports and that consumers are spending,Ã¢â‚¬Â said Michael Feroli, an economist at JPMorgan Chase & Co. in New York, who forecast a production gain of 0.9 percent. Ã¢â‚¬Å“YouÃ¢â‚¬â„¢re seeing a decent amount of breadth in terms of the increases.Ã¢â‚¬Â
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