Industrial output falls less than expected in November
WASHINGTON — Industrial output fell slightly less than expected in November as manufacturers continued to suffer from weakness in autos and many other areas.
The Federal Reserve reported today industrial activity dropped by 0.6 percent in November. Economists expected a decline of 0.8 percent.
The manufacturing sector is suffering like the rest of the economy from the deepening recession, which has cut consumer demand for many products.
The 0.6 percent drop in November followed a revised 1.5 percent increase in October. However, that gain occurred after a 4.1 percent plunge in September, which represented the biggest one-month drop since a 5 percent decline in February 1946.
For November, manufacturing output was down 1.4 percent, reflecting a 2.8 percent decline in production at auto plants, the third drop in the past four months. Production fell by a huge 11 percent in August and 3.6 percent in October.
By The Associated Press