With utilities output jumping sharply amid colder-than-average temperatures, the Federal Reserve released a report on Monday showing that U.S. industrial production rose by much more than expected in the month of November.
The report said industrial production surged up by 1.1 percent in November compared to economist estimates for an increase of about 0.6 percent.
Additionally, the Fed said the data for October was upwardly revised to show a 0.1 percent uptick compared to the originally reported 0.1 percent drop.
Source: RTT News. Read full article. (link)