U.S. factory output rises more than forecast on auto production

U.S. manufacturing output rose by more than forecast in November thanks to a boost in auto production, helping factories continue to rebound toward their pre-pandemic capacity and strength.

Output at factories increased 0.8% from the prior month after an upwardly revised 1.1% gain in October, according to Federal Reserve data Tuesday that compared with economists’ estimates for a 0.4% rise. Total industrial production, which also includes mining and utility output, advanced 0.4% in November after a 0.9% increase a month earlier. Production of motor vehicles and parts jumped 5.3%, the first increase in four months. Excluding auto production, factory output increased 0.4%.