US industrial production slightly above expectations

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Industrial production in the US increased 0.4% in November over the previous month and slightly beating market expectations of 0.3%. Still, output remained 5 % below its pre-pandemic level. Manufacturing production advanced 0.8 % in November, a seventh consecutive month of gains, mainly boosted by an increase of 5.3 % for motor vehicles and parts. The output of utilities declined 4.3 %, as warmer-than-usual temperatures reduced the demand for heating. Mining production increased 2.3 % after decreasing 0.7 % in October.

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