Factory activity gaining steam as production broadens

Production at the nation’s factories advanced 0.6 percent last month, building on October’s 0.5 percent gain, the Federal Reserve said on Monday. That increase in manufacturing combined with a jump in mining and utilities output to boost industrial production 1.1 percent, the largest increase since last November. Economists said the strong industrial production data bolstered the argument for the Federal Reserve to start reducing the pace of its monthly bond purchases.

    

Leave a Reply

Your email address will not be published.