U.S. industrial production rebounded 1.1% in November
U.S. industrial production rebounded 1.1% in November, more than double the estimate, after dropping -0.9% in October (revised from -0.8%) and sliding -0.4% in September (revised from -0.3%). Capacity utilization rose to 77.3% from 76.6% previously (revised down from 76.7%). Manufacturing production climbed 1.1%, bouncing from the -0.7% decline in October (revised from -0.6%) and the -0.7% drop in September (revised from -0.5%). Motor vehicles ans parts production surged 12.4% versus the prior -6.0% decline (revised from -7.1%). This is the first increase since July and was supported by the end of the UAW strike. Excluding vehicles/parts, production was up 0.3%, erasing the prior -0.3% decline (revised from -0.5%). Utilities rose 2.9% from -2.4% (revised from -2.6%). Mining slid -0.2% from -0.8% (revised from -0.7%).