Industrial production increases 0.5% in November

By MARTIN CRUTSINGER
AP Economics Writer

WASHINGTON (AP) — US industrial production increased 0.5% in November as output at the nation’s factories reached the highest level since January 2019. The November gain followed an even larger 1.7% increase in October which had represented a rebound following a 1% drop in production in September, the Federal Reserve reported Thursday. The September decline  reflected severe supply chain problems that reduced output at U.S. auto plants and also the adverse effects from refinery shutdowns along the Gulf Coast because of Hurricane Ida.