Posted January 17, 2020

Industrial production declined 0.3 percent in December

Industrial production declined 0.3 percent in December, as a decrease of 5.6 percent for utilities outweighed increases of 0.2 percent for manufacturing and 1.3 percent for mining.

Manufacturing output advanced 0.2 percent in December but decreased at an annual rate of 1.0 percent in the fourth quarter. The gain in December came despite a decrease of 4.6 percent for motor vehicles and parts; assemblies of light motor vehicles fell from 11.2 million units (annual rate) in November to 10.3 million units in December.

The drop for utilities resulted from a large decrease in demand for heating, as unseasonably warm weather in December followed unseasonably cold weather in November. For the fourth quarter as a whole, total industrial production moved down at an annual rate of 0.5 percent.

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