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Manufacturing Production Rose to Best Level since 2018
- Manufacturing production rose 0.7% in November, improving to the best level since December 2018. Manufacturing capacity utilization increased to 77.3% in November, also the strongest since December 2018. Overall, manufacturing production has risen 4.6% year-over-year, with 2.0% growth relative to February 2020’s pre-pandemic pace.
- Total industrial production rose 0.5% in November, the strongest reading since September 2019. On a year-over-year basis, industrial production has increased 5.3%.
- The IHS Markit Flash U.S. Manufacturing PMI slowed for the fifth straight month in December, down to a 12-month low. Manufacturers in the U.S. continued to cite supply chain bottlenecks and workforce shortages as significant challenges to growth, and the data reflect those challenges. Input price growth pulled back from a record pace, remaining very elevated.
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