Keeping you up to date on the latest data releases.
- Industrial Production
Industrial production increased 0.4 percent (nonannualized) in December, after falling 0.2 percent in November. On a year-over-year basis, overall production is up 2.9 percent—continuing to decelerate from a 2012 first quarter reading of 5.5 percent—but remains above its 25-year growth rate of 2.2 percent. Manufacturing production climbed up 0.9 percent in December and has risen at an annualized rate of 4.0 percent over the past three months, compared to its 12-month growth rate of 3.7 percent. After stripping out motor vehicles production, manufacturing output rose 0.9 percent in December after a 0.2 percent decline in November. Outside manufacturing, mining production posted modest gains, increasing 0.4 percent in December and is now up 6.5 percent on a year-over-year basis (for comparison, the 10-year growth rate in mining output is 0.6 percent). Electric and gas utilities output plummeted 2.7 percent in December as weather patterns have been unusual warmer than normal. Capacity utilization edged up 0.3 percentage points to 78.1 percent of capacity in December and has improved 1.3 percentage points from December 2010.