Non-farm employee output per hour soared in Q3.

Auto manufacturing rose nearly 5% in May, but overall production at factories, mines, and utilities fell 0.2%.

While U.S. GDP fell slightly to start the year, other nations' economies were growing.

"Overall, [it's] better news than yesterday on price inflation, but core PCE still comes in well above the 2% target."

In October, the PPI rose 2.4% year-over-year.

The recent survey also predicts that the federal funds rate will reach 3%-3.25% by the end of next year.

After a 0.9% decline in July, production at U.S. factories, mines, and utilities increased 0.8% in August, exceeding expectations.