Industrial Production Rose 0.9% in December

Industrial production rose 0.9% in December after a downwardly revised 0.1% decrease in November, according to the Federal Reserve.

Manufacturing output grew 0.1% in December after posting a 0.3% gain in November. Production of durable goods increased 0.8%, while nondurable goods production increased 1.1%. Capacity utilization for manufacturing increased from 77.2% to 77.9%, a rate that is 2.0 percentage points below its long-run average.

The output of mining grew 1.6% after increasing 0.1% in November. The index in December was 11.5% higher than its year-earlier level.

Utilities rose 1.2% in December, after remaining unchanged in November. The index in December was 0.6% higher than its year-earlier level.

Read the Fed release.

About Stephen Newton

Stephen Newton is an economic research associate at ABA.
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