Manufacturing, Sales Rates Rise During November

Sales of manufactured goods rose 1.1% in November, and industry stepped up its operating rate the following month in two new signs of rebounding economic activity, the government said today.

The November gain in merchandise sales was the largest increase in six months, the Commerce Department said. It said sales totaled $415 billion, a $4.4-billion increase over the October level.

While sales picked up, rebuilding of inventories slowed considerably. The department reported a 0.1% increase in inventory levels in November. It was the weakest performance since a 0.1% decline in June.

In a separate report, the Federal Reserve Board said the nation’s factories, mines and utilities operated at 81.9% of capacity in December, up 0.3% from the November level.

The gain posted in November had been the first increase since July. Factory operating rates dipped for the first time in this recovery for three consecutive months, starting in August.