US industrial output up for 3rd straight month in Dec
by ChemOrbis Editorial Team - content@chemorbis.com
According to data released by Federal Reserve (Fed), industrial production in the US rose by 1.6% on a monthly basis in December 2020, marking the third consecutive month of expansion in the sector.
Manufacturing output increased by 0.9% while mining and utilities production were respectively up by 1.6% and 6.2% when compared to November. Total industrial production, meanwhile, rose at an annual rate of 8.4% in the whole fourth quarter.
The data further revealed that capacity utilization for the industrial sector advanced by 1.1% on the month to 74.5% in December.
Manufacturing output increased by 0.9% while mining and utilities production were respectively up by 1.6% and 6.2% when compared to November. Total industrial production, meanwhile, rose at an annual rate of 8.4% in the whole fourth quarter.
The data further revealed that capacity utilization for the industrial sector advanced by 1.1% on the month to 74.5% in December.
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