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Friday, August 14, 2020
HomeNewsEconomyU.S. Industrial Production Heats Up December

U.S. Industrial Production Heats Up December

Manufacturing workers at the LCI Industries glass components plant in Elkhart, Indiana. (Photo: AP)
Manufacturing workers at the LCI Industries glass components plant in Elkhart, Indiana. (Photo: AP)

Manufacturing workers at the LCI Industries glass components plant in Elkhart, Indiana. (Photo: AP)

U.S. industrial production came in at a strong 0.9% in December juxtaposed to the consensus forecast of 0.4%, while the Federal Reserve revised November down to -0.1%. The resurgence of the U.S. mining industry has been the story in this report for all of 2017.

It’s up 11.5% for the year and has been growing in significant jumps on a monthly basis, including a 1.6% surge in December.

However, manufacturing has notably slowed down, adding a modest 2.4% gain all year. Still, manufacturing production rose at a 7.0% rate in the fourth quarter (4Q).

Utilities production increased by a solid 5.6% last month after falling 3.1% in November and motor vehicle and parts production gained 2.0%.

With last month, capacity utilization — which is a measure of how fully industries are deploying their resources — increased to 77.9% in December from 77.2% in November.

Written by
Staff Writing Group

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

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