Industrial Production Rises Post-Sandy
December 14, 2012 by UPI - United Press International, Inc.
WASHINGTON, (UPI) – Industrial production rose 1.1 percent in November after having fallen 0.7 percent in October, the Federal Reserve said Friday.
The gain in November is estimated to have largely resulted from a recovery in production for industries that had been negatively affected by Hurricane Sandy in late October.
Manufacturing output increased 1.1 percent in November after having decreased 1.0 percent in October. The Fed said a sizable rise in the production of motor vehicles and auto parts contributed to the boost in factory output in November.
The output of utilities advanced 1.0 percent, and production at mines rose 0.8 percent. At 97.5 percent of its 2007 average, total industrial production in November was 2.5 percent above its year-earlier level.