Posted January 18, 2018

Industrial production up 0.9 percent in December

Industrial production rose 0.9 percent in December even though manufacturing output only edged up 0.1 percent.

Manufacturing output was 2.4 percent above its year-earlier level. In the fourth quarter, the index for manufacturing moved up at an annual rate of 7.0 percent.

Revisions to mining and utilities altered the pattern of growth for October and November, but the level of the overall index in November was little changed. For the fourth quarter as a whole, total industrial production jumped 8.2 percent at an annual rate after being held down in the third quarter by Hurricanes Harvey and Irma. At 107.5 percent of its 2012 average, the index has increased 3.6 percent since December 2016 for its largest calendar-year gain since 2010.

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