Posted December 15, 2011
Industrial production dips
Industrial production decreased 0.2 percent in November after having advanced 0.7 percent in October.
Manufacturing output decreased 0.4 percent in November, and the factory operating rate dipped to 75.3 percent, a rate 10.9 percentage points above its trough in June 2009 but still 3.7 percentage points below its long-run average.
The output of durable goods slipped 0.1 percent in November but was 7.1 percent above the level from 12 months ago. Decreases of more than 1.5 percent in November occurred for wood products; electrical equipment, appliances, and components; and motor vehicles and parts. Gains of more than 1.5 percent were recorded for primary metals and for aerospace and miscellaneous transportation equipment.
The index for nondurable manufacturing declined 0.4 percent in November. Among the major components of nondurables, losses of more than 0.5 percent were reported for textile and product mills, apparel and leather, printing, and chemicals. Only the indexes for paper and for petroleum and coal products moved up.
The index for other manufacturing (non-NAICS), which consists of publishing and logging, dropped 2.2 percent in November; the index had registered gains in each of the previous four months.
The output of mines edged up 0.1 percent in November, after having climbed more than 2.0 percent in October. Capacity utilization in mining was unchanged at 92.9 percent in November, a rate 5.5 percentage points above its long-run average. The output of utilities gained 0.2 percent, and the operating rate for the sector moved up to 78.2 percent, a rate 8.4 percentage points below its long-run average.
Capacity utilization rates in November at industries by stage of process were as follows: At the crude stage, utilization decreased 0.4 percentage point to 90.5 percent, a rate 4.1 percentage points above its long-run average; at the primary and semifinished stages, utilization was unchanged at 74.2 percent, a rate 7.1 percentage points below its long-run average; and at the finished stage, utilization moved down 0.4 percentage point to 76.7 percent, a rate 0.6 percentage point below its long-run average.
