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US factory output gained more than expected in November as auto manufacturing continued to outperform despite rising COVID-19 cases.
Manufacturing output rose 0.8% last month, according to Federal Reserve data published Tuesday. Economists surveyed by Bloomberg expected a 0.4% climb. Industrial production grew 0.4% and now sits roughly 5% below its pre-pandemic highs.
Motor vehicle and part production leaped 5.3% through November, marking its first month of growth since July. Auto manufacturing and sales fueled strong economic growth through the summer before slowing modestly into the fall. The industry counted for roughly half of overall output details ⇒
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