US Industrial Production Dips by 0.1% in November

The Federal Reserve's Board of Governors reported on Tuesday that industrial production in the United States decreased by 0.1% in November compared to the previous month and by 0.9% compared to the same period in 2023.

Among the sectors, manufacturing output saw a 0.2% increase from October but a 1% decline year-on-year. Mining dropped by 0.9% month-on-month and 1.3% annually. The utilities sector fell by 1.3% compared to the prior month and by 0.1% compared to the same period in the previous year.

Furthermore, capacity utilization was down by 2.9 percentage points below its long-run average, dropping to 76.8% in November. On an annual basis, it expanded by 1.2%.