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US Industrial Production Appears to Have Slowed

A survey of economists predicts U.S. industrial production slowed during the month of November due mostly to a decline in automobile production. Production at factories, mines and utilities increased 0.1 percent after advancing 0.7 percent in October, according to the median forecast of 82 economists surveyed by Bloomberg News.

“Away from a drop in auto production, manufacturing output is pretty decent,” said Brian Jones, a senior U.S. economist at Societe Generale in New York.

Vehicle assembly slowed in November relative to the prior month, Jones said, citing figures from Ward’s Automotive data. The pace of mining may cool as well after a 2.3 percent jump in October that was the biggest since January 2010, he said.

Source: Bloomberg [1]

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Scott Boyd

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