The U.S. stock market soared this morning after the Federal Reserve Bank announced that industrial production in November posted its largest one-month gain in a year and surpassed its pre-recession peak.
The Fed said industrial production climbed 1.1 percent in November, the largest percentage rise since November of 2012. Also, October production was revised up to a 0.1-percent gain from a previously reported 0.1-percent drop.
Utilities’ output soared 3.9 percent during the month, while mining output jumped 1.7 percent and manufacturing output gained 0.6 percent.
Compared to the same period of 2012, production is up 3.2 percent.
The Dow Jones Industrial Average climbed by more than 140 points this morning. The largest local gainers today were Generac Holdings Inc. (up $1.24 to $53.22) and ManpowerGroup (up $1.16 to $83.30).