US industrial output increases by 0.9 percent in December 2024, exceeding anticipations
Date
1/18/2025 2:45:07 AM
(MENAFN) Industrial production in the US grew by 0.9 percent in December 2024, surpassing market forecasts of 0.3 percent, according to the Federal Reserve (FED) on Friday.
The increase in output from aircraft and parts contributed 0.2 percentage points to the overall growth in industrial production, following the resolution of a strike at a major aircraft manufacturer, the Fed reported.
The statement also noted that manufacturing output rose by 0.6 percent, following a 0.4 percent gain in November.
"The indexes for mining and utilities rose by 1.8 percent and 2.1 percent, respectively, in December," the report added.
Total industrial production in December stood at 103.2 percent of its 2017 average, marking a 0.5 percent increase compared to the same month the previous year.
Capacity utilization increased to 77.6 percent, which is 2.1 percentage points below its long-term average from 1972 to 2023.
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