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U.S. Industrial Production Hits Prerecession Peak

Wall Street Journal (12/16/13) Jeffrey Sparshott

According to the U.S. Federal Reserve, U.S. industrial output in November rose 1.1% from October, surpassing its prerecession peak in the largest jump in a year. Mining and utilities companies posted strong gains, and demand for a variety of industrial goods is rising. Manufacturing remains below its prerecession peak, but has gained for four straight months and rose 0.6% in November.

Manufacturers added 27,000 jobs in November; overall factory employment has risen to over 12 million employees for the first time since 2009. Healthy retail sales have demonstrated consumer demand.