Policy Research in Macroeconomics

US industrial production fell in December and Q4 2015

The US Federal Reserve today published its monthly statistical release on industrial production for December 2015, with some data for Q4 2015.  The overall position is that of a slight decline both month on month, and year on year.

US industrial production fell back by 0.4% in December compared to November 2015, primarily as a result of cutbacks for utilities and mining.  On an annual basis (compared to December 2014) there was a fall in total industrial production of 1.8%. The index for industrial production is now 106.0%, with 2012 = 100.

For the fourth quarter as a whole, industrial production fell at an annual rate of 3.4%

In December Manufacturing output slipped back slightly by 0.1% month on month, but was up 0.8% year on year.  However, it fell by 0.5% year on year in the fourth quarter.

The index for utilities dropped 2.0% on November (to 96%), as continued warmer-than-usual temperatures reduced demand for heating. 

Mining production fell 0.8% in December, its fourth consecutive monthly decline, largely due to a large drop in coal-mining.  

Both mining and utilities indices recorded annual falls of more than 15% percent in the fourth quarter.

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