The Federal Reserve reported on Tuesday the U.S. industrial production rose 0.4 percent m-o-m in November, following a revised 0.9 percent m-o-m increase in October (originally a 1.1 percent m-o-m gain).

Economists had forecast industrial production would increase 0.3 percent m-o-m in October.

According to the report, manufacturing output grew 0.8 percent m-o-m in November, driven by a 5.3 percent m-o-m surge for motor vehicles and parts. Mining production jumped 2.3 percent m-o-m. Meanwhile, and the output of utilities fell 4.3 percent m-o-m, as warmer-than-usual temperatures reduced the demand for heating.

Capacity utilization for the industrial sector increased 0.3 percentage point m-o-m to 73.3 percent in November. That was 0.4 percentage points above economists’ forecast but 6.5 percentage points below its long-run (1972-2019) average.

In y-o-y terms, the industrial output dropped 5.5 percent in November, following a revised 5.0 percent tumble in the prior month (originally a 5.3 percent decline).