The Federal Reserve released its industrial production report on Monday. The U.S. industrial production increased 1.3% in November, exceeding expectations for a 0.8% rise, after a 0.1% gain in October. That was the highest rise since May 2010. October's figure was revised up from a 0.1% decrease.

The increase was driven by bigger output of consumer goods and business equipment. The output of consumer goods was up 2.5% in November, the largest increase since August 1998.

Motor vehicle output surged 5.1% in November, the highest increase since July.

Business equipment production climbed 1.2%.

Capacity utilisation rate climbed to 80.1% in November from 77.6% in October, the highest since March 2008. October's figure was revised up from 78.9%.

Analysts had expected a capacity utilisation rate of 79.4%.