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The Federal Reserve released its industrial production report on Wednesday. The U.S. industrial production fell 0.6% in November, missing expectations for a 0.1% decrease, after a 0.4% decline in October. It was the fastest drop since March 2012.
October's figure was revised down from a 0.2% fall.
The drop was mainly driven by a fall in the mining output and utilities. Mining output plunged by 1.1% in November, while utilities production slid 4.3%.
Manufacturing output was flat in November, after a 0.3% rise in October. October's figure was revised down from a 0.4% increase.
Capacity utilisation rate decreased to 77.0% in November from 77.5% in October, missing expectations for a decline to 77.4%.
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