Industrial Output Fell 0.6% in Nov.

From Yahoo! Finance: Industrial output fell less than expected in Nov.
The Federal Reserve reported Monday that industrial activity dropped by 0.6 percent in November. Economists expected a decline of 0.8 percent.

"Manufacturing production tanked in November and the data were even worse than they look," said Joel Naroff, chief economist at Naroff Economic Advisors. "The only industry that posted a gain was aircraft and that was only because Boeing started back up after the strike."

The 0.6 percent drop in November followed a revised 1.5 percent increase in October. However, that gain occurred after a 4.1 percent plunge in September, which represented the biggest one-month drop since a 5 percent decline in February 1946.

For November, manufacturing output was down 1.4 percent, reflecting a 2.8 percent decline in production at auto plants, the third drop in the past four months. Production fell by a huge 11 percent in August and 3.6 percent in October.

From Mish's: Manufacturing Index Falls to Minus 25.8

The Federal Reserve Bank of New York’s general economic index fell to minus 25.8, the lowest level since records began in 2001, from minus 25.4 in November, the bank said today. Readings below zero for the Empire State index signal manufacturing activity is shrinking.

The New York Fed’s measure of new orders rose to minus 20.8 from minus 22.2 the prior month. A gauge of shipments increased to minus 8.8 from minus 13.9.

The report also showed inflation eased. The index of prices paid for raw materials decreased to minus 7.5 from 20.5 and the gauge of prices received dropped to minus 11.7, the lowest since July 2003, from 6. A measure of employment rose to minus 23.4 from minus 28.9, the lowest reading since December 2001.