Tags: industrial production | factory | hurricane | oil

Industrial Production Rose 0.2 Percent in November

Industrial Production Rose 0.2 Percent in November
(Dreamstime)

Friday, 15 December 2017 09:26 AM

U.S. industrial production rose 0.2 percent in November due to a rebound in extracting oil and natural gas after a stoppage due to Hurricane Nate.

The Federal Reserve said Friday that mining activity climbed 2 percent last month, while manufacturing activity rose 0.2 percent. Production of machinery and primary metals contributed to gains in the factory sector, while the overall growth for industrial output largely came from restarting oil and natural gas drilling.

Production at utilities fell 1.9 percent.

During the past 12 months, total industrial production has increased 3.4 percent.

Along with greater mining activity, factories are showing signs of strength. Factories are using more of their capacity and hiring more workers. Manufacturers have added 189,000 jobs over the past year, according the employment report released last week.

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Economy
U.S. industrial production rose 0.2 percent in November due to a rebound in extracting oil and natural gas after a stoppage due to Hurricane Nate.
industrial production, factory, hurricane, oil
129
2017-26-15
Friday, 15 December 2017 09:26 AM
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