Production still lower than in the same month last year
The US industry continues to recover from the corona slump. It increased its production in November by 0.4 percent compared to the previous month, announced the US Federal Reserve on Tuesday in Washington. That was a little more than expected. The increase follows a revised increase of 0.9 (initially 1.1) percent in October. Analysts had expected an average increase of 0.3 percent for November.
Compared to the same month last year, production in November is still 1.0 percent lower. Here a minus of 0.9 percent was expected. The industry has only partially recovered from the slump in the first Corona wave in spring. Compared to the pre-crisis level in February, production is still around five percent lower.
The capacity endowment of the industry rose in November compared to the previous month by 0.3 percentage points to 73.3 percent. An unchanged value of 73.0 points was expected. Overall, the occupancy rate is still at a relatively low level.