Industrial Production down by 0.1%

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Friday, Jan 16 2015

Industrial production decreased 0.1% in December after rising 1.3% in November. Analysts were anticipating 0.1% growth. The decrease in December reflected a sharp drop in the output of utilities, as warmer-than-usual temperatures reduced demand for heating; excluding utilities, industrial production rose 0.7%. Manufacturing posted a gain of 0.3% for its fourth consecutive monthly increase. The index for mining increased 2.2 percent after falling in the previous two months.

At 106.5% of its 2007 average, total industrial production in December was 4.9% above its level of a year earlier. For the fourth quarter of 2014 as a whole, industrial production advanced at an annual rate of 5.6%, with widespread gains among the major market and industry groups. Capacity utilization for the industrial sector decreased 0.3 percentage point in December to 79.7%, a rate that is 0.4 percentage point below its long-run (1972–2013) average.

Data did not have any major impact in USD. Euro is currently being traded around 1.1570 area, Sterling is few points above 1.5270 level, while Aussie is slightly below 0.82 handle. Later today, Consumer Sentiment figures are scheduled for a release.

More in this category: « US CPI decreased by 0.4% Consumer Confidence rose more than expected »

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