Getty Images

US Manufacturing Output Up 1.1% in November

Dec. 15, 2014
Factory output is now estimated to have been above its late-2007 pre-recession peak in both October and November.

Manufacturing output rose 1.1% in November, and the rates of change for prior months are stronger than reported previously, the Federal Reserve reported on December 15.

Factory output is now estimated to have been above its late-2007 pre-recession peak in both October and November.

In November, the indexes for both durables and nondurables increased more than 1%, and the output of every major industry group increased or remained unchanged.

Among durable goods industries, the output of motor vehicles and parts jumped 5.1% as a result of an increase of 900,000 units at an annual rate in total motor vehicle assemblies.

Machinery, wood products, and miscellaneous manufacturing each recorded gains exceeding 1%.

Among nondurable goods industries, output advances of more than % were registered by petroleum and coal products and by apparel and leather. The indexes for food, beverage, and tobacco products and for plastics and rubber products both increased 1.4%.

Industrial production increased 1.3% in November after edging up in October; output is now reported to have risen at a faster pace over the period from June through October than previously published.

Capacity utilization for the industrial sector increased 0.8 percentage point in November to 80.1%, a rate equal to its long-run (1972–2013) average.

“The increase is consistent with the most recent BLS jobs report showing that manufacturing employment in November rose by 28,000 jobs, the largest monthly increase since November 2013,” noted Don Norman, director of economic studies for the MAPI Foundation, the research affiliate of the Manufacturers Alliance for Productivity and Innovation.  

“This month’s report is obviously positive news for the manufacturing sector,” Noman added. “Whether the momentum can be sustained is an open question given the dramatic fall in the price of oil. Manufacturers benefit from lower petroleum product prices, but the lower price of oil could also result in reduced development of oil production and thus capital spending on manufactured products required for development.”

Popular Sponsored Recommendations

7 Crucial Steps to Improve Your OT Security

Oct. 23, 2023
Enhance OT security in manufacturing and production. Uncover the crucial steps to safeguard your operational technology. Protect against evolving threats and bridge the IT-OT ...

Why DataOps may be the key to unlocking the full potential of digital transformation

Nov. 3, 2023
Read the 2023 market survey conducted by IndustryWeek

The Manufacturer's Guide to Transforming the Service Experience.

Sept. 11, 2023
Learn how a unified data platform can make your service experiences more efficient while reducing costs. Turn your service center into a profit center and map your service transformatio...

The Ultimate Ecommerce Excellence Checklist

Oct. 2, 2023
Scaling ecommerce operations is no easy task when your business is moving fast. Assess your current ecommerce maturity level and set optimization priorities with this practical...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!