Industrial Output Set New Top in November
Industrial production, buoyed by soaring automobile output, climbed to a record rate in November, the Federal Reserve Board reported yesterday.</br></br>reported that ÛÏeconomic activity was at advanced levels in the closing months of the year.Û Building activity was close to the midyear high and both incomes and retail salse were on the rise.</br></br>The boardÛªs index of industrial production reached 147 per cent of the 194749 average in November, up one point from October after an adjustment1 for seasonal variation.</br></br>The index is a measure of actual output from the nationÛªs mines, mills and factories. It has been watched closely by. economists, because it failed to rise in the early months of the year and actually declined' during the summer. It rallied to; cent above a year ago. By contrast the gross national product! ÛÓa dollar measure of all goods and services produced ÛÓ has1 risen steadily and stands atj least 5' per cent higher than a year ago, partly because of! price increases.</br></br>The board said automobile production rose sharply in November, and, after seasonal adjustment, was up one-fourth from the October level. In early December the assembly lines speeded up further and reached a production close to the record levels of 1955.