Updated: 23-Dec-25 09:42 ET
| November Industrial Production |
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| Updated: 23-Dec-25 09:42 ET |
Highlights
- Industrial production increased 0.2% month-over-month in November (Briefing.com consensus 0.1%) following a 0.1% decline in October.
- The capacity utilization rate was 76.0% (Briefing.com consensus 77.4%) versus 75.9% in October.
- Total industrial production increased 2.5% yr/yr, while the capacity utilization rate was 3.5 percentage points below its long-run average.
Key Factors
- Manufacturing output was unchanged month-over-month following a 0.4% decline in October. Motor vehicle assemblies were down 1.2% month-over-month to a seasonally adjusted annual rate of 9.67 million units. Manufacturing capacity utilization held steady at 75.4%.
- Mining output jumped 1.7% month-over-month following a 0.8% decline in October. Mining capacity utilization rose to 86.3% from 84.8%.
- Utilities output decreased 0.4% month-over-month following a 2.6% increase in October. Utilities capacity utilization decreased to 70.9% from 71.4% in October.
Big Picture
- The key takeaway from the report is that the uptick in November was driven entirely by mining output, which offset the absence of growth in manufacturing output and a 0.4% decline in utilities output.
| Category | NOV | OCT | SEP | AUG | JUL |
| Industrial Production | |||||
| Total Index | 0.2% | -0.1% | 0.1% | -0.3% | 0.4% |
| Manufacturing | 0.0% | -0.4% | 0.0% | 0.0% | 0.4% |
| Utilities | -0.4% | 2.6% | 1.1% | -3.0% | 0.5% |
| Mining | 1.7% | -0.8% | -0.7% | 0.7% | 0.2% |
| Capacity Utilization | |||||
| Total Industry | 76.0% | 75.9% | 76.0% | 76.1% | 76.4% |
| Manufacturing | 75.4% | 75.4% | 75.8% | 75.8% | 75.9% |
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