Posted December 15, 2020

Industrial production rose 0.4 percent in November

Industrial production increased 0.4 percent in November.

After having fallen 16.5 percent between February and April, the level of the index has risen to about 5 percent below its pre-pandemic (February) reading.

Manufacturing output advanced 0.8 percent for its seventh consecutive monthly gain, to a level that was 3.8 percent below its pre-pandemic reading. An increase of 5.3 percent for motor vehicles and parts contributed significantly to the gain in factory production; excluding motor vehicles and parts, manufacturing output moved up 0.4 percent. The output of utilities declined 4.3 percent, as warmer-than-usual temperatures reduced the demand for heating. Mining production increased 2.3 percent after decreasing 0.7 percent in October.

The index for durable manufacturing rose 1.5 percent with widespread gains across its components. In addition to the large increase for motor vehicles and parts, output moved up notably for primary metals, for computers and electronics, for aerospace and miscellaneous transportation equipment, and for miscellaneous manufacturing. The index for nondurables edged up 0.1 percent in November after posting an increase of 1.4 percent in October.

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