Industrial production rose 0.4% in December after a decrease of 0.1% in November. Output in November was previously estimated to have advanced; weaker data for a number of industries, particularly steel, led to the downward revision.
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For the fourth quarter as a whole, industrial production decreased 0.5% (annual rate). In the manufacturing sector, output increased 0.7% in December, and most major industry groups registered gains.
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The output of utilities fell 2.6%, the result of relatively mild temperatures during the month, while the output of mines moved up 0.8%.
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Over the 12 months ending in December, total industrial production increased 3.0%, to a level that was 112.4% of its 2002 average, and total …
