In November 2023, industrial production increased 0.2%, and manufacturing output rose 0.3%, according to the Federal Reserve statistical release.
The increase in manufacturing output was more than accounted for by a 7.1% bounceback in motor vehicles and parts production following the resolution of strikes at several major automakers. The index for manufacturing excluding motor vehicles and parts decreased 0.2%. The output of utilities moved down 0.4%, and the output of mines moved up 0.3%.
Total industrial production in November was 0.4% below its year-earlier level. Capacity utilization moved up 0.1 percentage point to 78.8% in November, a rate that is 0.9 percentage point below its long-run (1972–2022) average.
U.S. wood products manufacturing decreased by 1.0% in November 2023.
Wood products production in November was 2.3% below its year-earlier level.
