There was some good news for the US this afternoon, with latest figures showing industrial output in November rose for the first time in four months Output was up 0.1pc in November from the previous month, the Federal Reserve said. However, the rise was smaller than expected. The consensus forecast of Wall Street economists was for industrial production to rise 0.2pc in November. In October, industrial output fell a revised 0.6pc, up from the initial estimate of a 0.8pc fall. On a year-on-year basis, industrial production in November was up 1.8pc. Much of the strength in industrial output came from the auto sector.
Motor vehicle and parts production rose 3.9pc in November, after falling 2.4pc in October. Excluding motor vehicles and parts, industrial production was down 0.2pc in November, compared with a 0.4pc fall the previous month. Production of final products, including consumer goods and business equipment, rose 0.4pc in November after falling 0.6pc in the previous month. Production of consumer goods was up 0.8pc in November, after falling 0.7pc in October. //www.fxcentre.com