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Industrial Production Increased 0.9% in December
Earlier from the Fed: Industrial Production and Capacity Utilization Industrial Production (IP) increased 0.9 percent in December after moving up 0.2 percent in November. In December, gains in the output of aircraft and parts contributed 0.2 percentage point to total IP growth following the resolution of a work stoppage at a major aircraft manufacturer. Manufacturing output rose 0.6 percent after gaining 0.4 percent in November. The indexes for mining and utilities climbed 1.8 percent and 2.1 percent, respectively, in December. At 103.2 percent of its 2017 average, total IP in December was 0.5 percent above its year-earlier level. Capacity utilization stepped up to 77.6 percent, a rate that is 2.1 percentage points below its long-run (1972–2023) average. emphasis added Click on graph for larger image. This graph shows Capacity Utilization. This series is up from the record low set in April 2020, and close to the level in February 2020 (pre-pandemic). Capacity utilization at 77.6% is 2.1% below the average from 1972 to 2023. This was above consensus expectations. Note: y-axis doesn't start at zero to better show the change. The second graph shows industrial production since 1967. Industrial production increased to 103.2. This is above the pre-pandemic level. Industrial production was well above consensus expectations.
Earlier from the Fed: Industrial Production and Capacity Utilization
Click on graph for larger image.
This graph shows Capacity Utilization. This series is up from the record low set in April 2020, and close to the level in February 2020 (pre-pandemic).
Capacity utilization at 77.6% is 2.1% below the average from 1972 to 2023. This was above consensus expectations.
Note: y-axis doesn't start at zero to better show the change.
The second graph shows industrial production since 1967.
Industrial production increased to 103.2. This is above the pre-pandemic level.
Industrial production was well above consensus expectations.
Industrial Production (IP) increased 0.9 percent in December after moving up 0.2 percent in November. In December, gains in the output of aircraft and parts contributed 0.2 percentage point to total IP growth following the resolution of a work stoppage at a major aircraft manufacturer. Manufacturing output rose 0.6 percent after gaining 0.4 percent in November. The indexes for mining and utilities climbed 1.8 percent and 2.1 percent, respectively, in December. At 103.2 percent of its 2017 average, total IP in December was 0.5 percent above its year-earlier level. Capacity utilization stepped up to 77.6 percent, a rate that is 2.1 percentage points below its long-run (1972–2023) average.
emphasis added
Click on graph for larger image.This graph shows Capacity Utilization. This series is up from the record low set in April 2020, and close to the level in February 2020 (pre-pandemic).
Capacity utilization at 77.6% is 2.1% below the average from 1972 to 2023. This was above consensus expectations.
Note: y-axis doesn't start at zero to better show the change.
The second graph shows industrial production since 1967.Industrial production increased to 103.2. This is above the pre-pandemic level.
Industrial production was well above consensus expectations.
