Industrial Production Up 0.8% in November - TheStreet



) -- In yet another indication of the pace of the nation's economic recovery, industrial production rose more than expected in November.

U.S. industrial output rose by 0.8% in November after remaining unchanged in October, according to a release that the Federal Reserve issued today. Economists had forecast a slightly smaller rise at 0.5%, says a poll from Thomson Reuters.

A 1.1% advance in manufacturing output and 2.1% increase in mining production helped offset lagging utilities. The 1.8% decline was due to lower gas demand resulting from unseasonably mild temperatures in November, according to the report.

Capacity utilization, or the share of plants in use, also improved to a 71.3% rate in November vs. a consensus forecast of 71.1%. Utilization stood at 70.6% in October.

Several major manufacturing conglomerates were tracking lower in the morning, with

General Electric

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(BA) - Get Report



(MMM) - Get Report

-- among others -- shedding 0.4%, 0.2% and 0.6%, respectively.


Dow Jones Industrial Average

was lower by 20 points, or 0.2%, to 10,481.

--Written by Sung Moss in New York