U.S. industrial production expanded more than expected in November, reflecting output gains in mining and utilities, according to the Federal Reserve.
Seasonally adjusted industrial production rose 0.6% month over month in November from a downwardly revised 0.2% decrease in October. The Econoday consensus estimate was for a 0.3% gain.
Mining output climbed 1.7%, and the index for utilities rose 3.3%; manufacturing output was unchanged during the month.
Year over year, industrial production improved by 3.9% in November.
Industrial capacity utilization edged 0.4% higher to 78.5% from the revised 78.1% in October.