Industrial Production Jumps by Most in Two Years

Industrial production jumped 1.1% in November, the biggest increase in two years, the Federal Reserve said Friday.

The increase in activity at factories, mines and utilities followed a revised 0.7% drop in October that originally was reported as a 0.4% decrease.

Economists had projected a 0.3% rise, Bloomberg reported.

Manufacturing, which makes up about three-quarters of the total, rose 1.1%, the biggest increase this year.

Production of motor vehicles and parts rose 4.5% in October, following a 0.1% drop.

Capacity utilization, which measures plant output, increased to 78.4%, from 77.8% in October.

Manufacturing accounts for about an eighth of the U.S. economy. The factory sector is one of trucking’s largest and most important customers.