Industrial Production Rises in December

Industrial production rose 1.6% in December but was 3.6% lower than it was a year earlier.  For the fourth quarter, total industrial production rose at an annual rate of 8.4%.

Durables manufacturing rose 1.5% and nondurable manufacturing increased 0.9% from the previous month.

Manufacturing rose 0.9% December. There was a 1.6% increase for mining, and 6.2% for utilities. The increase for utilities resulted from a rebound in demand for heating after unseasonably warm weather in November.

Read the Fed release.