Following are a few standouts from the Federal Reserve’s November report on industrial production:
Market Groups. The production of consumer goods fell 0.5 percent in November, with the output of consumer durable goods moving down 2.3 percent—in large part because of a drop of 6 percent in the production of automotive products. Production advanced for all of the other major durable goods categories: home electronics; appliances, furniture, and carpeting; and miscellaneous consumer durables. The output of nondurable consumer goods was unchanged in November following declines in the two previous months.
The output of business equipment rose 0.9 percent in November and was 12.5 percent above its level a year earlier. The indices for industrial and other equipment, and for information processing equipment, both rose about 1-1/4 percent. The production of transit equipment fell 0.6 percent, which more than reversed its October increase. The index for defense and space equipment moved up 1.5 percent during the month—its second consecutive monthly increase.
The production indices for construction supplies and business supplies both rose 0.9 percent last month. Over the 12 months ending in November, the output of construction supplies has moved up 6 percent, while the output of business supplies has increased 1.4 percent.
Industry Groups. Manufacturing production increased 0.3 percent in November, with the factory operating rate edging up to 72.8 percent—its highest level in more than two years. The output of durable goods rose 0.4 percent, and with the exceptions of nonmetallic mineral products and motor vehicles and parts, output advanced in all of the major industries. Gains of 1 percent or more were reported in wood products, primary metals, fabricated metal products, machinery, computer and electronic products, and miscellaneous manufacturing.
The complete November U.S. industrial product report is available online.