Tags: industrial | output | manufacturing | economy

Industrial Output Falls as Utilities, Manufacturing Weaken

Image: Industrial Output Falls as Utilities, Manufacturing Weaken

(Dollar Photo Club)

Wednesday, 14 Dec 2016 10:26 AM

U.S. industrial production fell 0.4 percent in November, a bigger drop than anticipated, due to a steep decline in utility output and a dip in manufacturing, data from the Federal Reserve showed on Wednesday.

The drop was the largest decline in industrial production since March, when the index fell 0.9 percent.

Output for October was revised to show a 0.1 percent increase rather than the unchanged level initially reported. Economists polled by Reuters had forecast industrial production falling 0.2 percent in November.

Manufacturing output fell 0.1 percent in November, less than the 0.2 percent decline anticipated by economists. It rose by an upwardly revised 0.3 percent in October.

Utilities production dropped 4.4 percent in November as warmer-than-normal temperatures reduced demand for heating. Utilities output fell by a downwardly revised 2.8 percent in October.

Mining production, which has been hurt by low oil prices, was up 1.1 percent after a downwardly revised 1.9 percent gain in October.

Industrial capacity utilization declined to 75.0 percent from 75.4 percent in October. Economists had forecast this metric at 75.1 percent. Officials at the Fed tend to look at capacity use as a signal of how much "slack" there is in the economy and how much room there is for growth to accelerate before it becomes inflationary.

© 2017 Thomson/Reuters. All rights reserved.

   
1Like our page
2Share
Economy
U.S. industrial production fell 0.4 percent in November, a bigger drop than anticipated, due to a steep decline in utility output and a dip in manufacturing, data from the Federal Reserve showed on Wednesday.
industrial, output, manufacturing, economy
212
2016-26-14
Wednesday, 14 Dec 2016 10:26 AM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved