Industrial Production Rose 0.1% in December, Down 3.1% in Q4

Washington, DC, January 17, 2024-Industrial production moved up 0.1% in December and declined 3.1% at an annual rate in the fourth quarter, according to the Federal Reserve. 

Manufacturing output edged up 0.1% in December after increasing 0.2% in November. The index for utilities declined 1.0% in December, while the index for mining rose 0.% . At 102.5% of its 2017 average, total industrial production in December was 1% above its year-earlier level. Capacity utilization was unchanged in December at 78.6%, a rate that is 1.1 percentage points below its long-run (1972–2022) average.

Pic: Slide by ITR Economics.