Mubasher: US industrial production expanded in November on the back of cold weather-induced utility usage, data by the Federal Reserve Bank showed on Friday.

Industrial production, a gauge of factory, mining and utility output, rose 0.6% last November following a 0.2% decline in October and a 0.1% gain in September.

On an annual basis, industrial production rose 3.9% in November.

Production at US factories, which represents around 75% of the country’s overall industrial output, was unchanged in November.

Mining output advanced 1.7% last November from the prior month, while utility production climbed 3.3% last November from the previous month.

It is worth noting that utility output is typically impacted by weather patterns.

Average temperature in November was the third coolest of the historical records, the National Oceanic and Atmospheric Administration said

Capacity utilisation, which reflects the constraints to operating factories, mines and utilities in the US, rose to 78.5% during the month, but remained 1.3% below its average from 1972 to 2017.

By 2:43 pm GMT, the EUR/USD pair fell 0.71% to $ 1.1280.