Financial News: U.S. Industrial Production Unexpectedly Edges Down 0.1% In

U.S. Industrial Production Unexpectedly Edges Down 0.1% In November

12/17/2024 - 09:21:00 (RTTNews)

(RTTNews) - The Federal Reserve released a report on Tuesday unexpectedly showing a modest decrease by U.S. industrial production in the month of November.

The report said industrial production edged down by 0.1 percent in November after falling by a revised 0.4 percent in October.

Economists had expected industrial production to rise by 0.3 percent compared to the 0.3 percent dip originally reported for the previous month.

The unexpected decrease by industrial production came as notable declines by mining and utilities output more than offset an uptick by manufacturing output.

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