U.S. industrial output rebounds sharply after GM strike’s end
The numbers: U.S. industrial production jumped 1.1% in November, the biggest gain in more than two years, the Federal Reserve reported Tuesday. The gain was close to Wall Street expectations of a 1.2% rise.
What happened: Manufacturing surged 1.1% in November, led by a 12.4% gain in production of cars and trucks and related parts. This is a rebound following the end of the United Auto Workers strike against General Motors GM, +0.46% in October. Excluding motor vehicles and parts, total industrial output was up 0.5%, while manufacturing was up 0.3%, the Fed said.Capacity utilization jumped to 77.3% in November from 76.6% in the prior month.
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