US industrial production shifted into higher gear in November, with factories pumping out more goods, especially motor vehicle products and energy products, official data showed today.
Industrial output increased 1.3% in November as manufacturing production rose 1.1%, well above its average monthly pace of 0.3% in the previous five months, the Federal Reserve said.
The Fed also revised higher the October industrial output reading to a 0.1% increase from a 0.1% decline.
The output of electric and gas utilities jumped 5.1% in November as unusually cold weather for the month boosted heating demand, the Fed said.
Mining output slipped 0.1%, but consumer goods production jumped 2.5%, the largest increase since August 1998.
The production of all major durable and non-durable categories of consumer goods rose, with the strongest gains seen in consumer energy products and automotive products.
Output of consumer energy products rose 1.7%. Motor vehicles and parts production surged 5.1%, led by a 9.3% increase in cars and trucks output.
