Factory Production in U.S. Stagnates on Less Output of Durables
Yellen: Health of U.S. Economy Quite Sound
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Manufacturing in the U.S. stagnated in November, held back by less production of durable goods such as automobiles and metals that reflects weak global demand.
The unchanged reading in factory output followed a 0.3 percent October gain that was softer than previously reported, data from the Federal Reserve showed Wednesday. Warmer weather led to the biggest slump in utility output in more than eight years, pushing down total industrial production by the most since March 2012.