Manufacturing surge pushes industrial production up 0.3 pct
WASHINGTON — U.S. industrial production increased 0.3 per cent in December, led by the biggest surge in manufacturing in ten months.
The Federal Reserve said Friday that that manufacturing output jumped 1.1 per cent last month, the largest gain since February 2018. Automakers drove much of the growth with a 4.7 per cent jump in production.
Utility output slumped 6.3 per cent amid an unseasonably warm December. Mining output rose 1.5 per cent on increased extraction of oil and natural gas.
Overall industrial production is up 4 per cent from a year ago.