WASHINGTON — Industrial production rose 1.1% in November after falling a revised 0.7% the previous month, while capacity utilization ticked up to 78.4% from a revised 77.7%, the Federal Reserve reported Friday.
October's industrial production was originally reported as a 0.4% decline, while capacity use was originally estimated at 77.8%
The November production increase was larger than the median 0.3% increase projected by economists polled by Thomson Reuters, and the estimated capacity utilization was also just above their guess of 78.0%.
The upswing in the production figure reflected a recovery for industries that were affected by Hurricane Sandy, the Fed reported.
Manufacturing output was up 1.1% for November following a 1.0% downturn in October. Utilities gained 1.0% after remaining unchanged the previous month.