By Steve Goldstein
WASHINGTON (MarketWatch) -- Industrial production declined 0.2% in November, dragged lower by a sharp 3.4% reduction in the output of motor vehicles and parts, the Federal Reserve said Thursday. Economists polled by MarketWatch had forecast a flat reading after a 0.7% gain in October. Even excluding autos, manufacturing output fell 0.2%. While October data was unrevised, readings from June, August and September were revised higher while July's was revised lower. Compared to November 2010, industrial production was 3.7% higher. Capacity utilization fell to 77.8% in November from an upwardly revised 78.0% in October; utilization has clung to a narrow 0.5% band since July.
