Dec. industrial production above expectations


Industrial production grew 0.3% in December, the Federal Reserve reported Friday.

The increase followed a revised 0.4% rise in November, first seen as a 0.6% increase.

Capacity utilization grew to 78.7% in December from an upwardly revised 78.6% in November, first reported as 78.5%.

Economists polled by IFR Markets projected a 0.2% increase for industrial production and a 78.5% capacity utilization rate.

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Manufacturing output was up 1.1% in December, following a 0.1% gain in November.

Utilities’ output was off 6.3% after increasing 1.3% in November, while mining was 1.5% higher after a 1.1% rise the month before.

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