Menu

Search

  |   Commentary

Menu

  |   Commentary

Search

U.S. industrial production rises sequentially in November

The industrial production in U.S. grew sequentially in November, coming in line with consensus expectations. Industrial output was up 0.2 percent, as compared with consensus projection of 0.3 percent rise. Within the headline figure, manufacturing was up 0.2 percent, while mining production grew strongly by 2 percent. The utilities output dropped 1.9 percent due to softness in electricity production.

Also, the data for October was upwardly revised to 1.2 percent from the earlier estimate of 0.9 percent, owing to an upward revision to manufacturing production. Motor vehicle production rose strongly in August through October, as the sector responded to the damage inflicted by the three large hurricanes that made landfall in the third quarter. The outsized rise in industrial production was expected to return to normal levels in November, noted Barclays.

“Weakness in November utilities reduced our estimate for growth private consumption, but this was offset by stronger-than-expected inventory accumulation and upward revisions to prior months. After rounding, our Q4 GDP tracking estimate remained unchanged at 2.5 percent”, added Barclays.

At 16:00 GMT the FxWirePro's Hourly Strength Index of US Dollar was neutral at 48.3559. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.