Industrial output fell slightly less than expected in November as manufacturers continued to suffer from weakness in autos and many other areas that is not expected to ease anytime soon.The Federal Reserve reported Monday that industrial activity dropped by 0.6 percent in November. Economists expected a decline of 0.8 percent.
The manufacturing sector is suffering like the rest of the economy from the deepening recession, which has cut consumer demand for many products.
"Manufacturing production tanked in November and the data were even worse than they look," said Joel Naroff, chief economist at Naroff Economic Advisors. "The only industry that posted a gain was aircraft and that was only because Boeing started back up after the strike."
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