(Dec 17): US industrial production unexpectedly declined for a third month in November on weaker utility output and mining.

The 0.1% decrease in production at factories, mines and utilities followed a downwardly revised 0.4% drop a month earlier, Federal Reserve data showed Tuesday. The median estimate of Bloomberg survey of economists was a 0.3% increase.

Manufacturing output rose a disappointing 0.2% after a downwardly revised 0.7% slide a month earlier. Despite resolution of a machinists’ strike at Boeing Co, aerospace equipment output declined, largely due to a decrease in aircraft parts production, the Fed said.

Output at utilities fell by the most in four months, while mining posted the largest decline since May.

Manufacturing, which accounts for three-fourths of total industrial production, has struggled this year as many companies limited capital spending amid high borrowing costs. Looking ahead, domestic manufacturers may remain challenged by sluggish global export markets and a strong dollar.

Uploaded by Magessan Varatharaja