Production jumps as nation recovers from hurricanes

Manufacturing News, Source : TheManufacturer.com
Published : 15 Dec 2005 21:11

Industrial production increased a strong 0.7 percent in November after a gain of 1.3 percent in October, helped along by the ongoing recovery of petrochemical and energy-related industries affected by recent hurricanes, the Federal Reserve reported today.

Output in November was 2.8 percent above its year-ago level. Manufacturing output moved up 0.3 percent in November after an increase of 1.8 percent in October, and the factory operating rate held steady at 79.4 percent. The production of motor vehicles and parts, however, fell 4.8 percent. The indexes for wood products, fabricated metal products, furniture and related products, and miscellaneous goods also posted declines, but production rose noticeably in primary metals, nonmetallic mineral products, computer and electronic products, and aerospace and miscellaneous transportation equipment.

The output of mines, meanwhile, shot up 4.8 percent in November, and the operating rate in mining moved up 3.8 percentage points, to 83.8 percent. Oil and gas extraction moved up substantially but remained more than eight percent below its level preceding Hurricane Katrina.

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