Industrial Production on the Rise

In an encouraging sign for the economy, the United States witnessed a 0.9% increase in industrial production in December, as reported by the Federal Reserve's Board of Governors.

Manufacturing and Mining Output

Manufacturing output saw a 0.6% rise from the previous month, maintaining stability on an annual basis. The mining sector also experienced growth, with a 1.8% increase monthly and a 0.3% rise year-over-year.

Utilities Sector Growth

The utilities index wasn't left behind, recording a 2.1% climb from the month before and a significant 4.3% jump compared to the same period last year.

Capacity Utilization Insights

Capacity utilization for the industrial sector reached 77.6%, marking a 0.6 percentage point increase from the previous month. Despite this growth, it remains 2.1 percentage points below its long-run average, though it has seen a 1.2 percentage point increase from the previous year.