US industrial production falls 0.7% in Dec, manufacturing output 1.3%

20 Jan '23

1 min read

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US industrial production decreased by 0.7 per cent in December last year, and by 1.7 per cent at an annual rate in 2022 fourth quarter. In December, manufacturing output fell by 1.3 per cent amid widespread declines across the sector. At 103.4 per cent of its 2017 average, total industrial production in December was 1.6 per cent above its year-earlier level.

The index for materials fell by 0.7 per cent, as a loss for non-energy materials offset a modest gain for energy materials. The index for consumer goods edged down by 0.1 per cent, with an increase for consumer energy products mostly offsetting decreases for durable and non-energy non-durable goods, the US Federal Reserve said in a press note.

Manufacturing output fell by 1.3 per cent in December and moved down 2.5 per cent at an annual rate in the fourth quarter last year.

In December, the indexes for durable and non-durable manufacturing dropped by 1.1 per cent and 1.5 per cent respectively.

ALCHEMPro News Desk (DS)

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