Market Updates
Industrial Output Shrank, Retail Sales Advanced In November
Brian Turner
17 Dec, 2024
Washington, D.C.
Industrial output shrank 0.9% from a year ago in November, the Federal Reserve reported Tuesday.
Manufacturing output, which accounts for 80% of industrial production, inched higher 0.2% from the previous month, offset by a 1.3% decrease in utility output and distribution and a 0.9% fall in mining production.
Retail sales in November increased from the previous month and from the previous year, suggesting resilient consumer spending.
Preliminary estimates of retail and food services sales, seasonally adjusted but not for inflation, rose monthly 0.7% and 3.8% from a year ago, according to data released by the U.S. Census Bureau.
Retail trade sales jumped 4.1%, motor vehicle and parts dealer sales were up 6.5%, and nonstore retail sales surged 9.8% from a year ago, respectively.
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