The numbers: Industrial production rose 0.5% in November, the Federal Reserve reported Thursday, led by strong gains in manufacturing and mining – which includes oil production.
The gain was above Wall Street expectations of a 0.6% gain, according to a survey by The Wall Street Journal.
Capacity utilization rose to 76.8% in November from 76.5% in the prior month. The capacity utilization rate reflects the limits to operating the nation’s factories, mines and utilities.
The gain was in line with expectations.
Big picture: Manufacturing has been a bright spot in the economy despite headwinds from supply constraints.
Market reaction:Stocks were set to rally further following Wednesday’s Fed decision.
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