December 15, 2008
Industrial Production Down In November
By Matthew L. Brown
Industrial production decreased 0.6 percent in November with declines widespread across industries, the Federal Reserve said.
Manufacturing production dropped 1.4 percent during the month.
Total industrial production in November was 5.5 percent below its level of a year earlier. The capacity utilization rate for all industries fell to 75.4 percent, 5.6 percent below its average level from 1972 to 2007.
The Fed also said its reported September drop in output in was revised down, and the rebound reported in October was revised up.
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