By Matt Grossman
Industrial production in the U.S. increased in December, rising for a second straight month, according to statistics from the Federal Reserve.
Production increased by 0.9% in December, after growing by a revised 0.2% in November, the Fed said. The November figure was amended from a previous estimate that production contracted that month.
Production of final products improved by 0.6%, led by a 1.4% increase in production of business equipment. Consumer-goods production grew by 0.5%. Production of nonindustrial supplies was up 0.9% and materials production was up 1.2%
Output in the utilities industry grew by 2.1%, mining production increased 1.8% and the manufacturing industry saw production rise 0.6%
The resumption of work at Boeing contributed in part to the economy's broad production gains.
Overall in 2024, industrial production rose by 0.5%, according to the Fed.
December industrial-capacity utilization improved to 77.6%, from 77% in November.
Write to Matt Grossman at matt.grossman@wsj.com
(END) Dow Jones Newswires
01-17-25 0945ET