Industrial Production Declines in December

Industrial production increased 0.1% in December after moving up 0.7% in November. Total industrial production in December was 3.7% higher than its year-earlier level, and 0.6% above pre-pandemic levels.

Manufacturing output decreased 0.3% in December. Durable and nondurable manufacturing both decreased 1.0% and 0.9%, respectively. The output of utilities fell 1.5%, while the index for mining increased 2.0% in December.

Read the Fed release.