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Technology Stocks : Jimbo's Playhouse/CPQ -- Ignore unavailable to you. Want to Upgrade?

To: Jimbo Cobb who wrote (8333)	12/15/2000 11:11:16 AM
From: Mao II	Read Replies (1) \| Respond to of 12663

Jimbo: When will Greenspan snap out of it? When will the madness end? M2 Friday December 15, 10:12 am Eastern Time Industrial Output Down in Nov WASHINGTON (Reuters) - Production by the country's factories, mines and utilities fell for the second consecutive month in November as motor vehicle production fell sharply and gains in technology output slowed, the Federal Reserve said on Friday. Industrial output fell 0.2 percent after a 0.1 percent drop in October, the Fed said in its monthly report. The back-to-back declines in industrial output, the first since June and July 1998, added to growing evidence of an economy that is slowing under the weight of increasing inventories and higher interest rates. Production of automobiles and light trucks fell 2.3 percent last month after plunging 8 percent in October, the Fed said. Vehicle assembly rates fell to 11.9 million units a year, the lowest since July 1998, from 12.2 million in October, it said. Aside from the weakness in motor vehicle output, production declines were fairly broad-based throughout the industrial sector. Excluding motor vehicles and parts, November industrial output fell 0.1 percent after a 0.1 percent October rise. Businesses used less of their production capacity in November for the third month in a row, indicating that a growing percentage of their capacity is going idle. Capacity use dropped to a rate of 81.6 percent in November, the lowest in a year, from 82.1 percent in October and 82.5 percent in September, the Fed said. Production of technology equipment, while still growing, was showing signs of slowing as well. Computer and office equipment output rose 2 percent last month after a 2.5 percent rise in October, while output of semiconductors and related components rose 1.1 percent in each of the last two months after 2.4 percent gains in September and August, the Fed said. Partly offsetting the overall drop in November industrial output were gains in mining and utility production. Mining, which includes oil production, rose 0.1 percent last month after being unchanged in October. Electric utility output jumped 3.6 percent in November after a 2 percent drop, reflecting unseasonably cold temperatures in parts of the country, the Fed said. biz.yahoo.com