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U.S. Industrial Production Down 0.6% in November

Wall Street Journal (12/16/15) Jeffrey Sparshott; Kate Davidson

Industrial production declined for the third consecutive month in November, according to the U.S. Federal Reserve. Industrial output declined a seasonally adjusted 0.6% from October and was the steepest decline since March 2012. Capacity utilization fell from 77.5% in October to 77% in November and reached the lowest level in two years. Prior to the 2007-09 recession, capacity use generally topped 80%.

Economists polled by the Wall Street Journal had forecast industrial production would decline 0.2% in November and capacity utilization would fall to 77.4%.

Manufacturing output was flat in November. Mining output declined 1.1% in November and was down 8.2% from a year ago. Output in the utilities sector dropped by 4.3% in November, due to warm weather.