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US industrial production rises in Dec

by ChemOrbis Editorial Team -
  • 19/01/2017 (15:28)
According to the Federal Reserve, industrial output in the US climbed by 0.8% in December on a monthly basis after it fell by 0.8% in November and beat the economists’ estimates which called for an increase of 0.6%.

The monthly increase in December was mainly driven by the rise in utilities by 6.6% after a decrease of 4.6% in the previous month. The rise in utilities was the largest since 1989 and stemmed from returning to normal temperatures after an unusually warm weather in November.

Manufacturing output was also up by 0.2% in December, mainly driven by the increase in production of motor vehicles, after a decrease of 0.1% in the previous month while mining remained steady.

As an indicator of how much production is utilized, industrial capacity was at 75.5% in December, matching the expectations of 75.4%.
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