US industrial output sees biggest gain since July

WASHINGTON, Dec 15 (BestGrowthStock) – U.S. industrial output rose
0.4 percent in November, its biggest gain since July and the
latest sign of a firmer end to the year for the world’s largest
economy, a report showed on Wednesday.

The increase was above a median forecast of 0.3 percent in
a Reuters poll, and followed a downward revision of October’s
reading from flat to a drop of 0.2 percent.

Output rose 5.4 percent compared to one year earlier,
according to the Federal Reserve data. A spike in utilities
partly offset a sharp 6.0 percent decline in the production of
motor vehicles and parts.

Capacity use, a measure of how fully firms are using their
resources, rose to 75.2 in November from a revised 74.9 in
October, but remained substantially below its long term
average.

Officials at the U.S. central bank tend to look at
utilization measures as a signal of how much “slack” remains in
the economy — how much room growth has to run before it
becomes inflationary.
(Reporting by Pedro Nicolaci da Costa, Editing by Chizu
Nomiyama)

US industrial output sees biggest gain since July