Economic Buzz: US Industrial Production Pulls Back Slightly In December

17 Jan 2022 , 08:31 AM

US industrial production edged down by 0.1 percent in December after climbing by an upwardly revised 0.7 percent in November, the Federal Reserve reported on Friday. The unexpected dip in production came as utilities output tumbled by 1.5 percent in December after a revised 1.9 percent jump in November. The report showed manufacturing output also fell by 0.3 percent in December following a 0.6 percent increase in the previous month. Meanwhile, the Fed said mining output surged up by 2.0 percent in December after rising by 0.5 percent in November.

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