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US manufacturing production beats expectations

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US manufacturing output increased more than expected in November, boosted by motor vehicle production, but momentum could slow in the months ahead as a fresh outbreak of COVID-19 infections keep workers at home and temporarily shut down factories.

US manufacturing production beats expectations
US manufacturing output increased more than expected in November, boosted by motor vehicle production, but momentum could slow in the months ahead as a fresh outbreak of COVID-19 infections keep workers at home and temporarily shut down factories.
Manufacturing output rose 0.8% last month, the Federal Reserve said on Tuesday. Data for October was revised up to show production at factories increasing 1.1% instead of 1.0% as previously reported. Factory production remains below its pre-pandemic level. Economists polled by Reuters had forecast manufacturing output rising 0.3% in November.

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