Industrial Production Up 0.3% for December

Industrial production increased 0.3% in December, according to a Federal Reserve report [link opens in PDF] released today.

Although the newest numbers reflect a drop from the previous month's 1% gain, November's numbers benefited from slowed October production caused by Hurricane Sandy. Total industrial production moved up at an annual rate of 1% for the fourth quarter as a whole.

Production has changed relatively little in the past six months, but December's data represent a 2.2% increase over December 2011. In the past 12 months, business equipment production has shot up 8.7%, for the largest sector gain, while utilities production, the only group to decline, fell 0.3%. 

The increase in manufacturing output was twice the consensus analyst estimate, rising 0.8% in December. The capacity utilization rate bumped up 0.1 percentage points to 78.8% for the month, beating analyst expectations of a 78.5% rate .

Source: Federal Reserve

The article Industrial Production Up 0.3% for December originally appeared on

You can follow Justin Loiseau on Twitter, @TMFJLo, and on Motley Fool CAPS, @TMFJLo.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Can't get enough business news?

Sign up for Finance Report by AOL and get everything from retailer news to the latest IPOs delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.