US industrial production rose 03 per cent in December

first_imgWASHINGTON — U.S. industrial production increased 0.3 per cent in December, led by the biggest surge in manufacturing in ten months.The Federal Reserve says that that manufacturing output jumped 1.1 per cent last month, the largest gain since February 2018. Automakers drove much of the growth with a 4.7 per cent jump in production.Utility output slumped 6.3 per cent amid an unseasonably warm December. Mining output rose 1.5 per cent on in increased extraction of oil and natural gas.Overall industrial production is up 4 per cent from a year ago.The industrial sector was using more of capacity, in a sign that they might need to invest more in equipment and facilities. Capacity utilization for manufacturers increased 0.7 points to 76.5 per cent, a solid increase though that’s two points below the long-term average.Josh Boak, The Associated Presslast_img

first_imgWASHINGTON — U.S. industrial production increased 0.3 per cent in December, led by the biggest surge in manufacturing in ten months.The Federal Reserve says that that manufacturing output jumped 1.1 per cent last month, the largest gain since February 2018. Automakers drove much of the growth with a 4.7 per cent jump in production.Utility output slumped 6.3 per cent amid an unseasonably warm December. Mining output rose 1.5 per cent on in increased extraction of oil and natural gas.Overall industrial production is up 4 per cent from a year ago.The industrial sector was using more of capacity, in a sign that they might need to invest more in equipment and facilities. Capacity utilization for manufacturers increased 0.7 points to 76.5 per cent, a solid increase though that’s two points below the long-term average.Josh Boak, The Associated Presslast_img

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