US Industrial Production Fell by 0.1% in December on Lower Manufacturing Output

Source: The Federal Reserve

US industrial production dropped 0.1% in December, coming weaker than the market estimate. DXY up +0.19%, EUR USD down -0.26%

• Industrial production, which measures the changes in the value of output, was projected to increase by 0.3% in December. Its increase in November was revised upwards to 0.7% from 0.5%.
• The Fed stated that the total industrial production in December was 3.7% higher than it was at the close of 2020 and 0.6% higher than the pre-pandemic level.
• Manufacturing production fell by 0.3% in December. But market expectation rose by 0.5% as the November increase was revised downwards to 0.6% from 0.7%.
• Capital utilization for the industrial sector dropped slightly by 0.1% in December to 76.5%.
• The Fed further stated that capitalization utilization for the manufacturing sector fell by 0.2% in December to 77.0%.