Industrial Production Declined 0.1% in December

Washington, DC, January 14, 2022-Industrial production declined 0.1% in December, according to the Federal Reserve. 

Losses of 0.3% for manufacturing and 1.5% for utilities were mostly offset by a gain of 2.0% for mining. 

For the fourth quarter as a whole, total industrial production rose at an annual rate of 4.0%. At 101.9% of its 2017 average, total industrial production in December was 3.7% higher than it was at the end of 2020 and 0.6% above its pre-pandemic (February 2020) reading. 

Capacity utilization for the industrial sector edged down 0.1 percentage point in December to 76.5 percent, a rate that is 3.1 percentage points below its long-run (1972–2020) average.