US Industrial Output Falls The Most Since March

Industrial production in the United States fell 0.4 percent month-over-month in November 2016, following an upwardly revised 0.1 percent gain in October and worse than market expectations of a 0.2 percent drop. It was the largest decline since March, due to a steep decrease in utility output and a dip in manufacturing.

Utilities production fell 4.4 percent, following a downwardly revised 2.8 percent contraction in the previous month, as warmer-than-normal temperatures reduced demand for heating. Also, manufacturing output edged down 0.1 percent, after rising by an upwardly revised 0.3 percent in October and better than market consensus of 0.2 percent decline.

By contrast, mining production rose by 1.1 percent, easing from a downwardly revised 1.9 percent gain in October. 

Compared to the same month of 2015, industrial output fell by 0.6 percent.

Industrial capacity utilization declined to 75 percent from 75.4 percent in October.

US Industrial Output Falls The Most Since March

Federal Reserve | Joana Ferreira |
12/14/2016 2:24:07 PM