9:15a U.S. industrial output up 0.6% in November
9:15a U.S. manufacturing output flat in November after revised 0.1% drop in prior month
Highlights
Big jumps for utilities and mining more than offset a flat performance at manufacturers to make for a 0.6 percent jump in November industrial production. Utility output surged 3.3 percent in November following two months of prior declines while mining output, which also sank in October and September, rose 1.7 percent.
Manufacturing couldn't muster much strength in November despite a 1.6 percent jump for select hi-tech and a 0.3 percent gain for motor vehicles. Production of construction supplies, where shortages have been reported, posted a third straight month of contraction with production of business equipment, which had been strong, also down in the month.
Manufacturing had been showing some life in this report but today's data include a sharp downward revision to October, now at minus 0.1 percent vs an initial 0.3 percent gain. These results, together with the previously released factory order data for October, point to a factory sector that may be running a bit out of gas going into year end.
9:16a Treasury yields hold decline after industrial production
9:17a 10-year yield at 2.891%; 2-year yield at 2.745%; 30-year yield at 3.146%
9:46a Flash U.S. services PMI slips to 53.4 in December vs. 54.7, an 11-month low
9:51a Flash U.S. manufacturing PMI slumps to 13-month low in December
10:00a U.S. business inventories climb 0.6% in October vs 0.5% (rev) prior month
Dan 
