Posted - Filed under Industrial Production, Release Observations.

From the Federal Reserve (our emphasis in bold):

Industrial production increased 1.1 percent in November after having edged up 0.1 percent in October; output was previously reported to have declined 0.1 percent in October. The gain in November was the largest since November 2012, when production rose 1.3 percent. Manufacturing output increased 0.6 percent in November for its fourth consecutive monthly gain. Production at mines advanced 1.7 percent to more than reverse a decline of 1.5 percent in October. The index for utilities was up 3.9 percent in November, as colder-than-average temperatures boosted demand for heating. At 101.3 percent of its 2007 average, total industrial production was 3.2 percent above its year-earlier level. In November, industrial production surpassed for the first time its pre-recession peak of December 2007 and was 21 percent above its trough of June 2009. Capacity utilization for the industrial sector increased 0.8 percentage point in November to 79.0 percent, a rate 1.2 percentage points below its long-run (1972-2012) average.

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September and October growth in Industrial Production were revised: downwards in September from a 0.65% gain to a 0.52% one, and in October from a 0.14% drop to a 0.10% gain.

The index has now surpassed its previous peak value, set almost six years ago, in December 2007.

More detailed breakdowns and charts available on our Industrial Production Data-set Page.

U.S. Industrial Production – Major Industry Groups
Changes by Sub-Index. Seasonally Adjusted.
Percentage Change of
Sub-Indexes
Monthly Change (%) 3-Month Change (%) Year/Year Change (%)
Sep.
2013
Oct.
2013
Nov.
2013
to May
2013
to Aug.
2013
to Nov.
2013
Sep.
2013
Oct.
2013
Nov.
2013
Total index 0.52 0.10 1.13 0.14 0.58 1.75 3.19 3.42 3.23
– Manufacturing (SIC) 0.13 0.48 0.65 -0.26 0.55 1.27 2.71 3.66 2.89
– – Durable manufacturing 0.44 0.65 0.78 -0.19 1.15 1.88 4.95 5.79 4.52
– – Nondurable manufacturing -0.35 0.39 0.50 -0.31 -0.06 0.55 0.57 1.72 1.41
– – Other manufacturing 1.68 -0.72 0.62 -0.75 -0.15 1.57 -1.54 -1.57 -1.45
– Mining 0.76 -1.47 1.69 1.32 3.15 0.95 6.92 4.65 5.16
– Electric and gas utilities 3.21 -0.33 3.91 1.44 -3.11 6.90 1.26 -0.25 2.84
– – Electric power generation, transmn and distrn. 3.55 0.03 3.80 1.47 -3.49 7.51 1.59 0.72 3.75
– – Natural gas distribution 0.81 -2.99 4.80 1.26 -0.26 2.48 -1.14 -7.10 -3.59

 

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The 1.13% rise in total production was the result of the following, weighted contributions from:
Manufacturing: Contributed 0.49% points
Mining: Contributed  0.26% points

 

Utilities: Contributed 0.38% points

ipcumcontr_short_total

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The two charts to the left show the growth in the overall index together with that of the weighted contributions of each major sector. The first chart shows the monthly changes, the second shows the levels over time.