Industrial production increases in December

Industrial production decreased 0.7% in December but remained 1.7 percent above its year-earlier level. Total industrial production in December was 1.6% higher than its year-earlier level. Furthermore, total industrial production decreased at an annual rate of 1.0% for the third quarter as a whole.

Manufacturing output declined 1.3% in December. The index for durable and nondurable manufacturing both declined 1.1% and 1.5% respectively. The index for other manufacturing (publishing and logging) declined 0.9%. The index for mining declined 0.9%, while the index for utilities increased 3.8% in December.

Read the Fed release.