Industrial Production Rose 0.3 percent in December

Industrial production increased 0.3 percent in December after rising 0.4 percent in November, according to the Federal Reserve. Capacity utilization was 78.7 percent in December a rate that is 1.1 points below its long-run average (1927-2017).

Manufacturing output increased 1.1 percent, its largest gain since February 2018. Production of durable goods increased 2.7 percent, while non durable goods production decreased 0.8 percent. Capacity utilization for manufacturing increased 0.7 percentage point to 76.5 percent.

The output of mining rose 1.5 percent after increasing 1.1 percent in November. The index in December was 13.4 percent higher than its year-earlier level.

Utilities decreased 6.3 percent in December, after rising 1.3 percent in November. The index in November was down 4.3 percent from its year-earlier level.

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About Author

Hugo Dante

Hugo Dante is an economist in Washington, D.C. He was previously an economic research specialist at ABA. In addition to the ABA Banking Journal, his writing has appeared in The Hill, The National Interest and Townhall. Views expressed here are his own.