Posted January 15, 2021

Industrial production gained 1.6 percent in December

Industrial production advanced 1.6 percent in December, with gains of 0.9 percent for manufacturing, 1.6 percent for mining, and 6.2 percent for utilities.

Manufacturing output advanced 0.9 percent in December for its eighth consecutive monthly gain. For the fourth quarter, manufacturing production rose at an annual rate of 11.2 percent. The index for motor vehicles and parts declined 1.6 percent in December but was nevertheless 3.6 percent higher than its year-earlier level. Excluding the motor vehicle sector, factory output moved up 1.1 percent as most manufacturing industries posted gains. The production of durable goods other than motor vehicles and parts rose 1.5 percent, and nondurable goods production increased 0.9 percent. Within durables, primary metals posted its seventh consecutive monthly increase. Within nondurables, plastics and rubber products posted the largest gain (3.2 percent), while printing and support recorded the only decrease (1.4 percent). The output of other manufacturing (publishing and logging) decreased 0.6 percent.

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