US Factory Production Rose in November
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| Reasons for the rise in US factory production |
US factory production rose in November, supported by a recovery in auto car production after the end of recent labor strikes, but activity was weaker in other sectors; The manufacturing sector is facing difficulty in facing the rise in borrowing and the decline in demand for goods as a result of rising prices.
According to data issued by the Federal Reserve, on December 15, manufacturing production rose by 0.3% in November.
Data for October was revised downwards, to show a decrease in factory production by 0.8% instead of the previously announced 0.7%.
Experts expected factory production to recover by 0.4%, except for cars and spare parts. Manufacturing production fell by 0.2% last month.
Manufacturing is still faltering and is unlikely to provide support for economic growth in the near term, as the manufacturing sector represents about 11.1% of the economy, but is suffering from high interest rates.
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