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January 17, 2008

Industrial Production Unchanged in December

Industrial production was unchanged in December.
 
For the fourth quarter, output fell 1% (annual rate), the first quarterly decrease since the fourth quarter of 2006. At 114% of its 2002 average, total industrial production in December was 1.5% above its year-earlier level.
 
Output in the manufacturing sector was unchanged in December. The output of utilities decreased 0.2% in December as a result of a decline at gas utilities; the output at mines edged up 0.1% after an increase of 1% in November.
 
Capacity utilization for total industry posted a small decrease in December, to 81.4%, a rate slightly below its year-earlier level but 0.4 percentage point above its 1972-2006 average.

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