US factory production accelerates

US manufacturing output recorded its largest increase in nine months in November as production expanded across the board, pointing to underlying strength in the economy.

Factory production increased 1.1 per cent last month after an upwardly revised 0.4 per cent advance in October, the Federal Reserve said on Monday.

Wall Street had expected manufacturing output to rise only 0.5 per cent in November after a previously reported 0.2 per cent gain in October.