US Manufacturing Output Posts 9 Month Record

U.S. manufacturing output recorded its largest increase in nine months in November as production expanded across the board, pointing to underlying strength in the economy.

Factory production increased 1.1 percent last month after an upwardly revised 0.4 percent advance in October, the Federal Reserve said on Monday.

Economists polled by Reuters had forecast manufacturing output rising by only 0.5 percent in November after a previously reported 0.2 percent gain in October.

Mining output slipped 0.1 percent last month, while utilities production jumped 5.1 percent as a cold snap boosted demand for utilities.

The gain in manufacturing and utilities combined to lift overall industrial production by 1.3 percent in November, the largest gain since May 2010. October’s industrial output was revised to show a 0.1 percent increase instead of the previously reported 0.1 percent dip.

The amount of manufacturing capacity in use rose to 78.4 percent last month from 77.6 percent in October.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza