NEW YORK — Industrial production in the nation was up 0.6% in December while capacity utilization rose to 72.0%, according to data released by the Federal Reserve Board today.
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The rise in production level followed a 0.6% increase the previous month, originally reported as a 0.8% gain, while December capacity use was revised up to 71.5 from 71.3.
Thomson Reuters had forecast a 0.6% increase for production, and a 71.8% level for capacity utilization.
A 5.9% jump in electric and gas utilities due to unseasonably cold weather was the driving force behind the gain in production, the Fed said. Manufacturing production edged down 0.1%, while the output of mines rose 0.2%.
