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Industrial production in U.S. jumps by most since May 2010

Industrial production surged in November by the most since May 2010 as U.S. assembly lines churned out more consumer goods and business equipment, signaling manufacturing is bolstering economic growth.

By Shobhana Chandra, Bloomberg | Updated on December 15, 2014
(Bloomberg) — Industrial production surged in November by the most since May 2010 as U.S. assembly lines churned out more consumer goods and business equipment, signaling manufacturing is bolstering economic growth.

The 1.3% gain in output at factories, mines and utilities followed a 0.1% increase the prior month that was previously reported as a decline, figures from the Federal Reserve showed today in Washington. Manufacturing rose 1.1%, the most in nine months, and output at utilities was the strongest in almost eight years.

The Fed’s report showed the biggest gain in consumer-goods production in 16 years, indicating rising auto sales and a pickup in retail purchases are helping factories work through a slowdown in global markets. More hiring, slumping gasoline prices and a jump in confidence add to signs of improving household demand and sustained output.

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