WASHINGTON -- U.S. factories rebounded in November from Superstorm Sandy, boosting production of cars, equipment and appliances.
The Federal Reserve says factory output increased 1.1 percent in November from October. That offset a 1 percent decline in the previous month, which was blamed on the storm.
Auto production jumped 4.5 percent to lead widespread increases in factory output. It was the first increase in production at auto plants since July. Production of primary metals, wood products, electrical equipment and appliances all showed gains.
The increase in production is a hopeful sign that companies may not be panicking yet about looming tax increases that are set to take effect next month without a budget deal in Washington.