The United States mining sector posted growth of 1.7% in November, while there were also increases in manufacturing of consumer goods and business equipment, according to the Federal Reserve (Fed). This data, released by the organization on Tuesday, suggests that the country’s general industrial production rose 0.2% in November, recovering from the 0.1% decline recorded the previous month.
The media reported that production of consumer goods by market increased by 0.3%, as did production of business equipment, which recorded the same percentage increase. Both increases increased the global progress of the finished products chapter by 0.4%. In the materials sector, production recorded an increase of 0.2%.
However, not all sectors delivered positive results. Non-industrial supplies saw a 0.3% decline, while construction saw a 0.6% decline. The public services sector also reported declines, down 0.4%. Manufacturing, on the other hand, remained stable in November after falling 0.4% in the previous month, the Fed reported.
According to the published data, the annual expansion of industrial activity reached 2.5% compared to November 2023. In addition, production exceeded the 2017 average by 1.8%, reflecting a significant upturn in US industrial development during the analyzed period.
The sectoral balance sheet shows that while most productive sectors showed signs of strengthening, some groups such as construction and public services faced setbacks. Mining development stands out as one of the growth drivers this month, posting the largest increase among the various industries assessed by the Fed.
The Federal Reserve report highlighted the recovery in manufactured goods markets and the positive impact of consumer goods and business equipment when analyzing monthly behavior. The slight increase in materials was partially offset by declines in certain groups, particularly in activities related to construction, where the 0.6% decline impacted the result of non-industrial shipments.
In a longer-term comparison, official information shows that US industry is maintaining a sustained pace compared to previous years. The 2.5% year-on-year increase and above-2017 average performance underline the resilience and recovery of industrial activity in the country.
Throughout the year, industry dynamics fluctuated, with some months of decline and others of growth, as detailed by the Fed. The stabilization of the manufacturing sector after previous declines and the excellent performance of mining contributed to the positive change observed in November.
Data released by the Federal Reserve underscores the complexity of U.S. industrial development, marked by uneven progress across sectors. While some corporations have managed to recover and even expand production, others have suffered setbacks, particularly in sectors dependent on construction and public services.
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