US Industrial Production Rebounds In November As Striking Autoworkers Returned To Work

US Industrial Production rebounded modestly in November from a drop in October, +0.2% MoM (below the +0.3% MoM exp) after last month’;s -0.6% MoM decline was revised even lower to -0.9% MoM. The revision meant that Industrial Production remains down 0.4% YoY…

Source: Bloomberg

Capacity utilization inched higher to 78.8% from 78.7% in Oct., revised down from 78.9%

In the manufacturing sector, production rose 0.3% MoM, below the 0.5% expected and October’s data was also revised lower (from -0.7% to -0.8% MoM). On a YoY basis, Manufacturing production remains down 0.8% in 2023 – its ninth month in a row of negative growth YoY.

Source: Bloomberg

The jump was driven by a surge in motor-vehicle production as striking autoworkers returned to work…

Source: Bloomberg

Excluding autos, however, manufacturing fell 0.2%.