FX.co ★ U.S. Industrial Production Jumps Much More Than Expected In December

According to a report released by the Federal Reserve on Friday, industrial production in the United States significantly outpaced expectations in December. The report indicates a 0.9% increase in industrial production for the month, following a revised 0.2% rise in November. Initial forecasts by economists had anticipated a more modest 0.3% increase, in contrast to the previously reported 0.1% decline for November. The larger-than-expected rise in industrial output was driven by notable surges in utilities, which rose by 2.1%, and mining, which increased by 1.8%, while manufacturing output advanced by 0.6%.