US industrial production rises by most in four months

(Sharecast News) - Industrial output across the United States rose by the most in four months in November, according to data from the Federal Reserve on Tuesday. Industrial production increased at a month-on-month rate of 0.2% last month, following a 0.1% decrease in October, marking the biggest gain since July.

Across October and November combined, output rose by 0.1%, in line with September but "a somewhat slower average pace" than the 12-month average, according to the Fed.

Manufacturing production was flat in November after a 0.4% decline in October, with mining and utilities output over October and November netting out slightly higher.

Meanwhile, according to Fed data, capacity utilisation - which measures how much of manufacturing capacity is actually being used - increased to 76.0% from 75.9%, though is still 3.5 percentage points below the long-run average.