By Canadian Press

US industrial production snaps back, rises 1.1% in November

Dec 17, 2019 | 8:29 AM

WASHINGTON — U.S. industrial production snapped back last month, posting the biggest gain in more than two years, boosted by the end of a strike at General Motors.

The Federal Reserve said Tuesday that industrial production — which includes output at factories, mines and utilities — rose 1.1% in November, reversing a 0.9% drop in October and recording biggest jump since October 2017.

Manufacturing output climbed 1.1%, carried higher by a 12.4% surge in production of cars, trucks and auto parts. The GM strike ended in late October. Excluding the auto industry, industrial output rose 0.5% last month and manufacturing output rose 0.3%.

The increases were bigger than economists had expected.

The Fed said that mining output fell for the third straight month, slipping 0.2% in November. Declining output in the oil and gas business has pulled down mining output in recent months. Still, mine production is up 2% over the past year. Utility production rose 2.9% from October to November but is down 4.1% over the past year.

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American industry has been buffeted by President Donald Trump’s trade wars, which have raised costs and created uncertainty for many businesses. Industrial and manufacturing production each fell 0.8% over the past year. Trade tensions might ease after the United States last week announced a modest trade deal with China and Congress is poised to pass a revamped North American trade pact.

Paul Wiseman, The Associated Press