Economic Watch: Industrial Production Posts Best Gain in a Year

December 16, 2013

By Evan Lockridge

SHARING TOOLS        | Print Subscribe

Industrial production in the United States last month grew at its fastest pace in a year with output increasing past a pre-recession peak, according to the U.S. Federal Reserve.

This measure of the total output at the nation’s factories, mines and utilities increased 1.1% in November from October, while the October figure was revised upward to a 0.1% hike from a first reported 0.1% drop. The gain in November was the largest since November 2012.

Manufacturing output increased 0.6% in November for its fourth consecutive monthly gain. Production at mines advanced 1.7% to more than reverse a decline of 1.5% in October. The index for utilities was up 3.9% in November, as colder-than-average temperatures boosted demand for heating

Compared to November 2012, U.S. industrial production is 3.2% higher.

“It does suggest that the manufacturing sector is gaining a little bit of momentum. You’ve got a decent underlying picture of respectable, if not terribly rapid, growth.” said David Sloan, a senior economist at 4cast Inc. in New York, in an interview with Bloomberg Businessweek. 

In November, industrial production surpassed for the first time its pre-recession peak of December 2007 and was 21% above its trough of June 2009.

Capacity utilization for the industrial sector increased 0.8% points in November to 79%, a rate 1.2% points below its 1972–2012 average.

The production of consumer goods increased 1.5% in November and stood 2.7% above its level of a year earlier. The output of durable consumer goods rose 2.2%, and all of its major components registered gains of 1% or more. The largest increases were in the production of automotive products, which rose 3.3% and in the production of home electronics, which moved up 2.6%.

Comment On This Story

Comment: (Maximum 2000 characters)  
Leave this field empty:
* Please note that every comment is moderated.


We offer e-newsletters that deliver targeted news and information for the entire fleet industry.


ELDs and Telematics

sponsored by
sponsor logo

Scott Sutarik from Geotab will answer your questions and challenges

View All

Sleeper Cab Power

Steve Carlson from Xantrex will answer your questions and challenges

View All