U.S. manufacturing production beats expectations

WASHINGTON (Reuters) - U.S. manufacturing output increased more than expected in November, boosted by motor vehicle production, but momentum could slow in the months ahead as a fresh outbreak of COVID-19 infections keep workers at home and temporarily shut down factories.

Manufacturing output rose 0.8% last month, the Federal Reserve said on Tuesday. Data for October was revised up to show production at factories increasing 1.1% instead of 1.0% as previously reported. Factory production remains below its pre-pandemic level. Economists polled by Reuters had forecast manufacturing output rising 0.3% in November.

(Reporting by Lucia Mutikani)

You May Also Be Interested In

• Trump: Iran Strikes Will Be Limited
• The AI chip race is entering a new era: More tokens, less power
• U of M Sentiment (Aug F) 51.7 vs 51 Expected