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Industrial production in the United States fell during the month of November, following an extreme warm weather that slowed mining output as power plants remained shut for quite some time.
The U.S.’s industrial production declined 0.4 percent from a month earlier, data released by the Federal Reserve showed Wednesday. Utility output plunged 4.4 percent, following a 2.8 percent downturn in October. A warm fall meant Americans used less heat.
Factory output slipped 0.1 percent. A drop in auto production, which is volatile month to month, offset increased output elsewhere. Mining production rose 1.1 percent despite a steep drop in output at coal mines, data showed.
Manufacturing output, slipped 0.1 percent in November after rising in September and October, led by a drop in production of long-lasting durable goods, particularly motor vehicles and parts. A strengthening of the U.S. greenback is weighing on the country’s industrial performance. Mines have shed 87,000 jobs over the past year, and factories have lost 54,000.
Meanwhile, the dollar index traded at 102.25, up 0.48 percent, while at 6:00GMT, the FxWirePro's Hourly Dollar Strength Index remained highly bullish at 136.63 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
