United States factory production rebounded by more than forecast in November and rose excluding a surge in auto production following the end of the General Motors Co. strike, in a sign of stabilization in manufacturing.
- The 1.1% increase in manufacturing output, the biggest gain since early 2018, followed a 0.7% decrease in October, Federal Reserve data showed Tuesday, topping the median estimate of economists for a 0.8% gain. The increase is welcome to manufacturers, who have faced headwinds throughout the year including persistent trade- policy uncertainty and slowing global demand. Even with the gain in November, though, factory output fell 0.8% from a year earlier, and figures were revised lower for September and October, indicating that activity remains relatively subdued. This month’s proposed initial trade accord between the U.S. and China could bode well for output in 2020 if confidence improves.