MW: Nov. industrial output up 0.4% vs 0.2% expected
By Greg Robb
Corrects gain in November industrial output to 0.4%.
WASHINGTON (MarketWatch) - The output of the nation's factories, mines and utilities rose 0.4% in November, the Federal Reserve said Wednesday. The data was stronger than expected. Economists surveyed by MarketWatch had expected a 0.2% increase. Factory activity alone rose 0.3% in November for the second straight month. Excluding autos, factory output was up 0.7%. There were revisions to the data going back to June but the net effect left the level of production about the same as was previously reported, the Fed said. Capacity utilization - a gauge of slack in the economy - rose to 75.2% in November from 74.9% in October. This is the highest rate since October 2008, the start of the global recession.
