US Industrial Production Snaps Back, Rises 1.1% in November
U.S. industrial production snapped back last month posting the biggest gain in more than two years, boosted by the end of a strike at General Motors.
The Federal Reserve said Tuesday that industrial production -- which includes output at factories, mines and utilities -- rose 1.1% in November, reversing a 0.9% drop in October and recording the biggest jump since October 2017.
Manufacturing output climbed 1.1%, carried higher by a 12.4% surge in production of cars, trucks and auto parts.
The GM strike ended in late October.
Excluding the auto industry, industrial output rose 0.5% last month and manufacturing output rose 0.3%.
The increases were bigger than economists had expected.