Industrial Production Dipped in December

Washington, DC, January 19, 2023--Industrial production decreased 0.7% in December and 1.7% at an annual rate in the fourth quarter, according to the Federal Reserve.

In December, manufacturing output fell 1.3% amid widespread declines across the sector. At 103.4% of its 2017 average, total industrial production in December was 1.6% above its year-earlier level.

Capacity utilization dropped 0.6% point in December to 78.8%, a rate that is 0.8 percentage point below its long-run average (1972–2021).