The 2020 Mid-Year Economic Update_long

Industrial Production Inches Upward in December

Capacity utilization increases to 72.0%.
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Industrial production increased 0.6 percent in December, primarily a result of an increase of 5.9 percent in electric and gas utilities due to unseasonably cold weather. Manufacturing production edged down 0.1 percent, while the output of mines rose 0.2 percent.

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The change in the overall index was revised up in October, but it was revised down in November; for the fourth quarter as a whole, total industrial production increased at an annual rate of 7.0 percent. At 100.3 percent of its 2002 average, output in December was 2.0 percent below its year-earlier level.

Capacity utilization for total industry edged up to 72.0 percent in December, a rate 8.9 percentage points below its average for the period from 1972 to 2008.

For more details, including breakout by market and industry group, download the pdf below.

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