FX.co ★ US Industrial Output Rises More than Expected

Industrial production in the U.S. increased by 0.4% from the previous month in December, consistent with November's growth and surpassing market forecasts, which had anticipated a 0.1% rise. Manufacturing output experienced a 0.2% uptick, defying expectations of a projected 0.2% decline. Additionally, the utilities index saw a significant increase of 2.6%, fueled largely by a noteworthy 12% surge in the natural gas index. Conversely, mining output experienced a decline of 0.7%. Capacity utilization improved, reaching 76.3%, a figure that remains 3.2 percentage points below the long-standing average from 1972 to 2024.