Industrial production in November saw the biggest one-month percentage gain in a year to reach a record high, though the monthly advance was led by utilities output after an unusually cold month
The Federal Reserve said Monday that industrial production climbed 1.1% in November, the biggest percentage rise since Nov. 2012, as utilities output jumped 3.9%
Also, October production was revised up to a 0.1% gain from a previously reported 0.1% drop Economists polled by MarketWatch had expected a 0.6% gain for November
The level of 101.3 for industrial production is on an index that was 100 in 2007
Capacity utilization rose to 79% from an upwardly revised 78.2% in October
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Tasa de capacidad de utilización 79.0% 78.4% 78.2% Revisión de 78.1%
USD Producción industrial (MoM) 1.1% 0.5% 0.1%
The data appear to show that momentum signaled by purchasing managers in surveys like the Institute for Supply Management manufacturing index has shown up in hard data.
To little surprise, motor vehicles and parts continued to grow, rising 3.4% on the month to take year-on-year gains to 7.5%.
But other categories also joined in the advance, including a 3.1% leap in wood products.
Consumer goods more broadly saw a 1.5% advance while business equipment output fell 0.5% on the month.
There were other reports on the manufacturing sector on Monday: the Empire State factory index limped into positive territory while the Markit flash purchasing managers index for December signaled a somewhat slower pace of activity at a still-strong 54.4 reading.
U.S. consumer price index unchanged in November
Core CPI, minus food and energy, rises 0.2%
Consumer energy prices drop 1.0% in November
Consumer food prices rise 0.1% in November
CPI up 1.2% in past 12 months; core 1.7%
November inflation-adjusted hourly wages rise 0.2%
U.S. current account deficit lowest since 2009
Third-quarter account gap falls to $94.8 billion
2nd-quarter deficit revised down to $96.6 billion
Foreign purchases of Treasurys increase sharply
Private foreign Treasury purchases climb $63.4B
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