U.S. industrial production rises more than expected in November

Posted Dec 15th 2009 1:00PM by Connie Madon
Filed under: Good news, Products and Services, Management, Industry, Economic Data, Technology

U.S. industrial production rose 0.8% in November. The index showed no change in October. We can infer from this that manufacturers are working off inventory and are able to produce more to meet increased demand. Economists surveyed by Bloomberg News has expected a gain of 0.5%.

Here are specific sector changes:

New York's Empire State Index fell to five month low of 2.6 from 23.5 in November. Readings above zero signal expansion.

Capacity rose to 71.3% from 70.6% in October.
Production at manufacturers increased 1.1% in November, the most in three months. In October the index fell 0.2%.
Production of business equipment rose 0.4%. Output of computers and electronics also rose 0.4%.
Utility production fell 1.8% last month, due to the warmer weather.
Mining output rose 2.1%
Auto sales rose to 10.9 million vehicles from 10.45 million in October. Ford plans to boost first quarter production by 550,000 vehicles.
Excluding autos, production rose 1.1%.
Consumer durable goods such as furniture, automobiles and electronics rose 1.5%.

Manufacturers are benefiting from a weak dollar, which is making American goods more competitive.

Do you believe that this manufacturing expansion will continue into next year?

Tags: auto sales, dollar, Empire State Index, industrial production, inthenews, manufacturing