U.S. manufacturing production near three-year high in November

Production at U.S. factories increased to its highest level in nearly three years in November as output rose across the board, providing a powerful boost to economy as the year ends. The manufacturing output index climbed 0.7% last month to 100.6, the highest level since January 2019, the Federal Reserve said on Thursday. That followed a 1.4% rebound in October. Economists polled by Reuters had forecast factory production rising 0.7%. Output increased 4.6% compared to November 2020.