Industrial production drops 0.2% in November

WASHINGTON (MarketWatch)
Industrial production declined 0.2% in November, dragged lower by a sharp 3.4% reduction in the output of motor vehicles and parts, the Federal Reserve said Thursday.
Economists polled by MarketWatch had forecast a flat reading after a 0.7% gain in October.
Even excluding autos, manufacturing output fell 0.2%.
While October data was unrevised, readings from June, August and September were revised higher while July's was revised lower.
Compared to November 2010, industrial production was 3.7% higher.
Capacity utilization fell to 77.8% in November from an upwardly revised 78.0% in October; utilization has clung to a narrow 0.5% band since July.