Industrial output posts largest gain in a year

U.S. industrial production recorded its largest increase in a year in November as mining and utilities output rebounded strongly, in the latest suggestion the economy is gaining steam as the year winds down. Industrial output increased 1.1 percent last month as auto production swung into higher gear, the Federal Reserve said on Monday. Economists polled by Reuters had expected industrial production to rise 0.5 percent last month. Manufacturing output, which accounts for three quarters of industrial production, rose 0.6 percent last month, increasing for a fourth straight month.


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