Industrial Production Rises in December

Industrial production rose 0.4% in December as factory output climbed by the most in a year, the Federal Reserve said Wednesday.

The increase in output from factories, mines and utilities followed a revised 0.3% decline in November.

The December reading was lower than economists’ projections of a 0.5% increase, Bloomberg reported.

Factory production, which makes up three-quarters of the total, climbed 0.9%.

Production of automobiles and parts gained 0.6%, while factory production excluding autos rose 0.4%.

Capacity utilization, which measures plant output, improved to 78.1%, from 77.8% in November.

Manufacturing accounts for about an eighth of the U.S. economy and the factory sector is one of trucking’s largest and most important customers.