Citing U.S. Federal Reserve data, the American Chemistry Council (ACC; Washington, D.C.; www.americanchemistry.com) said U.S. industrial production slipped by 0.2% in November following a 0.7% gain in October.
“The largest declines were in motor vehicles and parts, wood products, electrical equipment, apparel and printing,” the latest Weekly ACC Chemistry and Economic Report says, but other segments gained, such as aerospace, primary metals and prefabricated metal products, the report adds. Compared to a year ago, industrial production was up 3.7%, the report points out. Although there was drop in industrial production for November, regional data indicate improving activity in December, ACC says.
“The recovery has entered a ‘sawtooth’ phase of uneven growth,” the ACC report says.
After assessing the economic reports for the week, ACC concluded that the data were mostly positive, with initial claims for unemployment insurance falling to their lowest level in more than three years, and an expansion in business inventories and sales.
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