Industrial production declined 0.4% in December, primarily as a result of cutbacks for utilities and mining. Decline by 0.2% was forecasted. The decrease for total industrial production in November was larger than previously reported, but upward revisions to earlier months left the level of the index in November only slightly below its initial estimate. For the fourth quarter as a whole, industrial production fell at an annual rate of 3.4%. Manufacturing output edged down in December.
The index for utilities dropped 2.0%, as continued warmer-than-usual temperatures reduced demand for heating. Mining production decreased 0.8% in December for its fourth consecutive monthly decline. At 106.0 percent of its 2012 average, total industrial production in December was 1.8% below its year-earlier level. Capacity utilization for the industrial sector decreased 0.4 percentage point in December to 76.5%, a rate that is 3.6 percentage points below its long-run (1972–2014) average.
Euro is currently being traded around 1.0960 level, Sterling is few points above 1.4350 area, while Aussie is at 0.6880 level. Later today, Consumer Sentiment figures are scheduled for a release.
