U.S. Industrial Production Shows Weaker Than Expected Rise in November

U.S. Industrial Production Shows Weaker Than Expected Rise in November

© Reuters.  U.S. industrial production rises 0.2% in November vs. 0.3% forecast© Reuters. U.S. industrial production rises 0.2% in November vs. 0.3% forecast

Investing.com – Both industrial and manufacturing production in the U.S. rose less than expected in November, dampening optimism over the health of the economy, official data showed on Friday.

In a report, the Federal Reserve said that increased by 0.2% in November from the previous month, compared to expectations for a rise of 0.3% and a gain of 1.2% in October that was revised from an initial 0.9% increase.

Meanwhile, increased by a seasonally adjusted 0.2% last month, compared to forecasts for a 0.3% rise and following the 1.4% advance registered in October that was revised up from an initial increase of 1.3%.

The report also showed that the , a measure of how fully firms are using their resources, settled at 77.1% in November, below the forecast for a reading of 77.3% and compared to 77.0% a month earlier.

Following the report, trading at 1.1789 from around 1.1792 ahead of the release of the data, was at 1.3329 from 1.3337 previously, while traded at 112.30 versus 112.25 earlier.

The , which tracks the greenback against a basket of six major rivals, was at 93.67 compared to 93.64 before the report.

Meanwhile, U.S. stock futures pointed to a higher open. The gained 72 points, or 0.29%, the rose 6 points, or 0.21%, while the traded up 12 points, or 0.19%.

Elsewhere, in the commodities market, changed hands at $1,262.00, compared to $1,262.10 prior to the release, while traded at $57.37, compared to 57.38 ahead of the report.

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