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U.S. Factory Production Accelerates
Output by America's manufacturing sector, which expanded 0.4% in October, climbed 1.1% in November twice the gain analysts expected, according to the Federal Reserve.
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Output by America's manufacturing sector, which expanded 0.4% in October, climbed 1.1% in November twice the gain analysts expected, according to the Federal Reserve. It was the biggest monthly advance in nine months.
Growth was driven by a 5.1% surge in car and component output that reversed three previous months of decline. The Fed says capacity utilization by the manufacturing sector rose to nearly 84% in November compared with 80% for the industrial sector overall.
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