Keeping you up to date on the latest data releases.
- Industrial Production
Industrial production increased 0.3 percent (nonannualized) in December, following a 1.0 percent increase in November as production returned following Hurricane Sandy. The near-term trend (three-month annualized growth) inched up to 3.7 percent from 3.3 percent. On a year-over-year basis, overall production is up 2.3 percent but it has been slowing from earlier in the year. Manufacturing production rose 0.8 percent in December while the year-over-year growth rate continues to slow, but increasing 2.4 percent. Breaking down the manufacturing sector, durable and nondurable goods increased 1.0 percent and 0.6 percent, respectively. Within durable goods manufacturing, primary metals, and motor vehicles and parts posted increases greater than 2.0 percent in December. Overall capacity utilization edged up 0.1 percentage points to 78.8 percent of capacity, which is still 1.5 percentage points below is long run average.