U.S. Industrial Production Declines

Forex - Industrial production in the U.S. contracted in November, contrary to market expectations. Industrial production fell by 0.1% compared to the previous month, while a rise of 0.3% was anticipated. Year-over-year, industrial production decreased by 0.9%.

The industrial production figure for October was revised from -0.3% to -0.4%.

In November, the capacity utilization rate came in at 76.8%, below expectations, which were set at 77.2%. The rate for October was revised from 77.1% to 77.0%.

In November, manufacturing output increased by 0.2% due to a 3.5% rise in the motor vehicles and parts index. However, there was an annual decline of 1.0% in manufacturing production.