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Monday, May 20, 2024 | Back issues
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Manufacturing Gains Fuel US Industrial Production

The Federal Reserve said Friday that U.S. manufacturing output increased 1.1 percent in December, the biggest jump in 10 months, fueling an uptick in overall industrial production.

(CN) – The Federal Reserve said Friday that U.S. manufacturing output increased 1.1 percent in December, the biggest jump in 10 months, fueling an uptick in overall industrial production.

A United Auto Workers assemblyman works on a Ford F-150 truck being assembled at the Ford assembly plant in Dearborn, Mich., in September 2018. (AP Photo/Carlos Osorio, File)

A new report shows a 4.7 percent increase in automotive manufacturing was behind the surge, while mining output grew by 1.5 percent and the utility index dropped 6.3 percent because of a warmer than expected holiday season.  

U.S. industrial production grew 0.3 percent last month, and is up 4 percent from a year ago.

December’s growth in manufacturing was the largest gain since last February, marking a strong finish to 2018.

Overall auto sales last year increased 0.3 percent compared to 2017.

Friday’s report suggests concerns about a global economic slowdown and a trade war between the U.S. and China have not yet had a negative impact on manufacturing.

The Associated Press contributed to this report.

Categories / Economy, National

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