Wednesday, January 18, 2012

Industrial Production Rose 0.4% in December

Industrial production rose by 0.4% in December according to a Federal Reserve report released this morning. December’s increase rounds out a fourth quarter that saw industrial production growth slow to an average rate of 0.2%, down from third quarter average growth of 0.5%.

Manufacturing rebounded 0.9% from a November decline of 0.4%. December’s growth was relatively widespread, with durable goods production growing 0.9%, nondurable goods growing 0.8%, and business equipment growing 0.8%. Utilities continues to drag on production growth, falling 2.7%, mostly due to warmer weather. The capacity utilization rate recovered from November’s decline, matching October’s 78.1%.

December’s report is good news, showing that November’s decline was just a blip and that manufacturing is likely to continue growing with some momentum.

Read the report.

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