US: Industrial production rises in November, but moderation expected - Wells Fargo
|Industrial production rose 0.6% in November in the US according to data released today. Analysts at Wells Fargo, warn manufacturing production was flat and they expect further moderation ahead given slower growth.
Key Quotes:
“Industrial production rose 0.6% in November, boosted by a 3.3% jump in utilities as colder-than-usual temperatures gripped much of the country last month.”
“More telling of recent economic activity was the flat reading in manufacturing production. After declining 0.1% in October, the flat reading in November hints that the robust pace of production this past year is beginning to slow.”
“We expect to see continued softening in the pace of manufacturing growth in the coming year, as both U.S. and global growth slow and the dollar remains a headwind for exporters.”
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