Friday, January 17, 2014

Industrial Production Rose Slightly in December

Industrial production rose 0.3% in December, with manufacturing continuing to see healthy growth. Overall production is now 3.7% above year-ago levels.

Manufacturing growth slowed slightly from the strong growth seen the prior two months, but remained healthy at 0.4% over the month. Auto production was a strong component of manufacturing growth, rising 1.6% over the month. Auto assemblies rose to 11.8 million, their highest since 2006. Strong gains in electronics and appliances, as well as high-tech manufacturing also contributed to the strong growth.

Mining production posted the strongest gains in December rising 0.8%. Utilities production dipped in December by 1.4%, following an unusually strong November.

Read the Federal Reserve release.

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