Industrial Production Rises 0.8% in December

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roduction at U.S. factories, mines and utilities rose 0.8% in December, making 2004 the best year for industrial output since 2000, the Federal Reserve reported Friday.

The report also said the share of industrial capacity in use rose to 79.2%, the highest since before the 2001 recession, from 78.6%. Capacity utilization rose 1.2% last year.

Manufacturing, which accounts for almost 90% of industrial production, rose 0.7% after rising 0.1% in November, the Fed said. The factory sector is one of trucking’s largest and most important customers.

The report said business equipment production, including transportation and information processing equipment, rose 0.9% after a 0.2% decline. Production of information equipment such as computers rose 1% and production of automotive products rose 0.5%, the Fed said.

The Fed also said mining rose 0.4% and power utility production rose 2.7%.

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