Industrial Production Drops Slightly
WASHINGTON, Dec. 16 (UPI) — Industrial production fell 0.2 percent in November after rising 0.7 percent in October, the U.S. Federal Reserve Board said.
Manufacturing output dropped 0.4 percent, while production at mines rose 0.1 percent in the month. Output at utilities rose 0.2 percent after three consecutive months of declines, the Fed said Wednesday.
Capacity utilization — measuring production as a percentage of manufacturing, mining and utilities operating at full steam — fell to 77.8 percent, which is 2 percentage points higher than November 2010 but 2.6 points below its 1972-2010 average, the Fed said.
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