Industrial Production Recovers After Sandy

Industrial production rose 1.1% in November, the Federal Reserve announced today. The increase followed a month-to-month drop in the indicator in October, when it fell by 0.7%.

The Fed attributed much of last month's gains to a recovery in production for enterprises that had been negatively affected by Hurricane Sandy, the "superstorm" that caused widespread property damage in the New York/New Jersey metropolitan area and other areas of the Northeast.

Of the major market groups tracked by the Fed, construction saw the highest increase during the month, at 1.4%. Construction was followed by consumer goods and business equipment, each at 1.2%. The Fed noted that a "sizable rise in the production of motor vehicles and parts boosted factory output in November."

In year-over-year terms, industrial production advanced by 2.5% in November.

link


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2155329, ~/Articles/ArticleHandler.aspx, 12/18/2014 7:34:55 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement