U.S. industrial output expanded by 0.7% in November compared to October as the energy industry rebounded from damaging hurricanes, the Federal Reserve said Dec. 15. The increase was just ahead of analysts' forecast for a rise in production of 0.5% and compared with an upwardly revised gain of 1.3% in October.
Manufacturing output rose 0.3% in November.
Output at mines surged 4.8% in November after falling in the previous four months, while production at utilities was up 0.3%. Output of consumer goods fell 0.8%. Construction was up 0.5%.
"Further recoveries in petrochemical and energy-related industries affected by the hurricanes again contributed significantly to the increase in output in November," the Fed said in a statement.
Copyright Agence France-Presse, 2005