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VOL. 42 | NO. 2 | Friday, January 12, 2018
US industrial production rose 0.9 percent in December
WASHINGTON (AP) — The Federal Reserve says U.S. industrial production rose 0.9 percent in December, pulled higher by a surge in utility output, another sign of health for the American economy.
Utility production shot up 5.6 percent last month, the most since March 2017. Manufacturing output edged up 0.1 percent. Mining production rose 1.6 percent.
American industry was running at 77.9 percent of capacity last month, the highest since February 2015.
Overall industrial production — including manufacturing, mining and utilities — rose 3.6 percent over the past year. It was the best annual performance since 2010.
Industrial production picked up at the end of 2017 after being held down by Hurricanes Harvey and Irma. The U.S. economy is looking healthy, with unemployment at a 17-year low of 4.1 percent.