The US Federal Reserve (Fed) released industrial production and capacity utilization rate data for December 2024. Accordingly, industrial production increased by 0.9% compared to the previous month. Market expectations predicted that industrial production would increase by 0.3% in this period.
Industrial production, which recorded an increase of 0.2% in November 2024, attracted attention with a higher than expected increase in December. On an annual basis, industrial production rose by 0.5%.
Manufacturing industry production also increased by 0.6% mom in December. Market expectations were for a 0.2% increase in manufacturing production. In November 2024, this rate was realized as 0.4%.
On the other hand, capacity utilization rate rose to 77.6% in December. While this increase showed a 0.6% point rise, it was above the market expectations. In the previous month, capacity utilization rate was recorded as 77%.
These data show that the US economy continued to grow in the industrial sector and production capacity increased. This increase in both industrial production and capacity utilization rate is interpreted as an indicator of the strengthening of the US economic recovery process.
Comments
No comment yet.